Mumbai-headquartered grocery-delivery startup Zepto Monday said it has raised a funding round of $60 million from investors including Glade Brook Capital, Nexus Venture Partners and Y Combinator.
The funding round, which also saw the participation of individual investors including Lachy Groom, Neeraj Arora, and Manik Gupta, has valued the startup at $225 million, per media reports.
Zepto will use the funding raised to expand its operations nationwide, and beef up its team. The startup is expanding across Mumbai, Bengaluru, and Delhi-NCR, and will be launching in key areas across Hyderabad, Chennai, Pune, and Kolkata in the next 30 days, YourStory reported.
Founded in June 2021 by two 19-year-olds — Aadit Palicha and Kaivalya Vohra — Zepto, with its network of ‘dark stores’ or micro-warehouses claims to be consistently delivering groceries and essentials in 10 minutes.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India announced from October 26-November 2, 2021.
