In just nine months of its launch, e-commerce grocery deivery startup Zepto has raised $200 million led by YCombinator that values the firm at around $900 million. The new investors Kaiser Permanente and existing investors Nexus Venture Partners, Glade Brook capital, and Lachy Groom.
The nine-month-old company missed out on unicorn status by $100 million, with a valuation of $900 million. To date, the startup has raised $360 million.
Zepto delivers groceries from 3,000 multiple products in 10 minutes. The company operates on a hub-and-spoke model, with a network of dark stores or retail distribution centers that only cater to online shopping.
“We posted 800 percent quarter-on-quarter revenue growth, while burn has come down 5x on a per-order basis,” said Palicha, the company’s co-founder and CEO. This incredible execution in recent months has demonstrated to investors that Zepto will be one of the winners in Indian quick commerce.”
Its co-founder and CTO Kaivalya stated, “We’ve turned micro-markets profitable and brought down burn significantly while growing to a scale of hundreds and thousands of orders per day.”