Instant Grocery Delivery Startup Zepto Receives $100 Million Funding

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Posted on 23-12-2021 by Admin


Instant Grocery Delivery Startup Zepto Receives $100 Million Funding

Youth startups in India have grown very fast in the last few years and many of them have also found great success. Similarly, two youths of Mumbai got a big achievement. The startup of 19-year-old Aadit Palicha and Kaivalya Vohra has received funding of $100 million (Rs 750 crore).

Just 19-year-old Aadit Palicha and Kaivalya Vohra were studying computer science program at Stanford University. Left studies in the middle and came to India and got a grocery delivery named Zepto.

what does zepto do

Zepto claims to deliver groceries and daily necessities in 10 minutes. This startup, which started from Mumbai this year, has now spread to four other cities including Bengaluru, Delhi.

According to media reports, both these friends were studying computer science program at Stanford University and left their studies in between and came to India. Coming to India, both of them started a grocery delivery startup named Zepto.

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Just 19-year-old Aadit Palicha and Kaivalya Vohra were studying computer science program at Stanford University. He left his studies and came to India and started a grocery delivery startup named Zepto.

Zepto Startup valuation 570 million

Under the leadership of Y Combinator, the startup of these two got funding of $ 100 million (Rs 750 crore). Another great success to his name is that he has doubled the valuation of his startup Zepto in just 5 months. At present, the valuation of this startup has reached 570 million.

In addition to the Y Combinator Community Fund, the new round also received investments from new and existing bankers such as Glad Brook Capital Partners, Nexus Venture Partners, Breyer Capital and Silicon Valley investor Lachey Groom, the startup said in a statement.

Online grocery delivery business is growing rapidly in India. In India, it is a multi-trillion-dollar market with a major share of retail spending. Zepto competes with startups such as SoftBank Group-backed Blinkit, Google-backed Dunzo and Naspers Ltd-backed Swiggy.

 


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