Grocery Delivery App Zepto Raises USD 60 Million in Maiden Round

Grocery supply app Zepto has raised USD 60 million (round Rs 449 crore) in an early stage funding from buyers like Glade Brook, Nexus, Lachy Groom, Y Combinator and International Founders Capital.

The founders — Aadit Palicha and Kaivalya Vohra — left behind laptop science levels at Stanford College to construct Zepto, which has been working for the reason that previous six months. It provides supply in 10-minutes. “We now have raised USD 60 million in an early-stage funding spherical from institutional buyers like Glade Brook, Nexus, Lachy Groom, Y Combinator and International Founders Capital and particular person buyers together with Neeraj Arora, Manik Gupta and some others.

“We’ll use the cash to develop our service nationwide,” the founders of the city-based startup stated in an announcement on Monday. Since Zepto operates by its optimised community of cloud shops or micro-warehouses, it is ready to persistently ship in 10 minutes by a mixture of technical and operational excellence.

Zepto is increasing rapidly throughout Mumbai, Bengaluru and Delhi-NCR and might be launching in key areas in Hyderabad, Chennai, Pune and Kolkata over the following month. Zepto has its operational headquarters in Mumbai and tech workplace in Bengaluru and its administration staff contains senior leaders from a few of the largest startups, together with Flipkart, Uber India, Dream11, Pharmeasy, and Pepperfry.

(PTI)