This six-month-old startup is nearing Google-backed Dunzo's valuation by delivering groceries in 10 mins
Zeptosaid that with its network of ‘cloud stores’ or micro-warehouses, it is able to consistently deliver in 10 minutes.
Dunzotoo launched its dark stores in Bengaluru to enable quicker delivery of groceries, meat and medicine.
- Dunzo was valued at $300 million in March 2021, while Zepto is now valued at $225 million.
AdvertisementQuick grocery delivery app Zepto on Monday said it has raised $60 million in an early-stage round to expand its 10-minute delivery service nationwide. The company is valued at $225 million.
Zepto said that with its network of ‘cloud stores’ or micro-warehouses, it is able to consistently deliver in 10 minutes through a combination of technical and operational excellence.
“The data speaks for itself – once we started delivering in 10 minutes, our NPS (net promotor score) shot up and has constantly remained at around 85 with a 50%+ week-on-week user retention rate, which shows the incredibly strong customer love for our product,” said Kaivalya Vohra, Founder & CTO.
Aadit Palicha and Vohra, both computer science graduates from Stanford University in the US, have built Zepto this year with backing from institutional investors like Glade Brook Capital, Nexus and Y Combinator, along with individual investors.
Zepto said it is expanding quickly across Mumbai, Bengaluru and Delhi-NCR and will be launching in key areas across Hyderabad, Chennai, Pune and Kolkata in the next 30 days.
Its management includes senior leaders from Flipkart, Uber, Dream11, Pharmeasy and Pepperfry, to name a few.
“Q-Commerce in India is an opportunity of epic proportions and strong unit economics. Today, we’re consistently growing 200 per cent every single month with an unstoppable team, robust product infrastructure, and deep access to institutional capital,” said Palicha.
Zepto competes with Google-backed Dunzo in the quick commerce space. Earlier this year, Dunzo too launched its dark stores in Bengaluru to enable quicker delivery of groceries, meat and medicine. The company's was valued at $300 million in March 2021, according to an Entrackr report.
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