BENGALURU: Zepto, which operates a 10-minute grocery delivery service, has raised $200 million in a Series D round, and with this, the start-up is now valued at around $900 million. Y Combinator Continuity doubled down and led the round with new investor Kaiser Permanente backing the start-up.
Existing investors Nexus Venture Partners, Glade Brook Capital and Lachy Groom have also increased their investments. The funding comes at a time when Swiggy plans to start drone trials for grocery service. Zomato-backed Blinkit, Flipkart and BigBasket too are betting big on quick commerce. With this fund, Zepto plans to grow sustainably across the country.
Zepto reported 800% Q-o-Q revenue growth and grown headcount to over 1,000 people in a few months Zepto co-founder and CEO Aadit Palicha said, “Last quarter has been incredible for Zepto. We maintained an 88-point NPS and 60% month-1 buyer retention at scale.” Zepto co-founder and CTO Kaivalya said, “Our rigorous focus on unit economics is the main reason why we have had such an amazing trajectory as a company.” It has raised a total of $360 mn from investors in Silicon Valley and India.