Two teenage Stanford dropouts have made their startup worth half a billion in 7 months
- Quick grocery delivery app
Zeptohas raised $100 million in a Series C round.
- Zepto had earlier raised $60 million only 45 days ago, at a valuation of $225 million.
- It expanded its presence to Bengaluru, Delhi, Gurgaon, Chennai, Hyderabad and Pune in the last two months.
AdvertisementQuick grocery delivery app Zepto — founded by two 19 year old Stanford dropouts only seven months ago — is now valued at $570 million by marquee investors of the Indian startup ecosystem.
Zepto was founded by Aadit Palicha and Kaivalya Vohra, and it currently delivers 2,500 products in 10 minutes flat.
The company, on December 21, announced that it has raised $100 million in a Series C round led by Y Combinator’s Continuity Fund. New and existing investors, including Glade Brook, Nexus, Breyer Capital, Lachy Groom, Global Founders Capital, Contrary Capital and others.
Zepto had earlier raised $60 million only 45 days ago, at a valuation of $225 million.
The company claims to have expanded its presence from Mumbai to Bengaluru, Delhi, Gurgaon, Chennai, Hyderabad and Pune in the last two months. The company is now looking to enter Kolkata.
Zepto’s valuation is now nearly double of Google-backed
Another competitor Swiggy, which started its
“Investors are consistently choosing to back Zepto because of our best-in-class execution. This is giving us incredible momentum - we’re growing at a phenomenal rate, customers are loving the product experience, our core unit economics are strong, and we have one of the best startup teams in India today. Suffice it to say, I’m excited about what’s to come,” Aadit Palicha, cofounder and chief executive (CEO) of Zepto, said.
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