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News In Brief Startups

Zepto raises $200 in Series D funding round

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Zepto raises $200 in Series D funding round
03 May 2022
min read

News Synopsis

Zepto, a 10-minute grocery delivery app, raised $200 million in a Series D funding round, at a valuation worth $900 million. It shows investor confidence in the slowdown in seed funding and provides ammunition to compete with larger competitors such as Swiggy, Dunzo, and Big Basket.

The round was led by Y Combinator Continuity with Kaiser Permanente. Existing investors such as Nexus Venture Partners, Glade Brook Capital, and Lachy Groom have also increased their investment. Last December, the startup raised $100 million led by YC Continuity at a valuation of $570 million.

Zepto provides customers with rapid grocery delivery through micro warehouses. Growing up in Dubai, Palicha and Vohra come from a family with a business background and venture business from an early age. While in school, they founded their first venture, GoPool, a ride pooling app that was later acquired by a Dubai-based company.

The company will use the new capital tranche to expand its business, improve its product and expand the offering of its newly launched Zepto Cafe.