Grocery deliver app Zepto raises 100 mn dollars

Just five months after launching, 10-minute grocery delivery app Zepto on Tuesday announced it has raised $100 million led by Y Combinator, taking its valuation to $570 million.

Besides the fundraise, Zepto has been growing incredibly quickly and is tripling its user-base every month.

Over the past two months, Zepto has expanded beyond Mumbai by launching in Bengaluru, Delhi, Gurgaon, Chennai, Hyderabad and Pune (Kolkata to follow), the company said in a statement.

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, said Aadit Palicha, Co-Founder and CEO.

The Series C fundraising round saw participation from new and existing investors, including Glade Brook, Nexus, Breyer Capital, Lachy Groom, Global Founders Capital, Contrary Capital, and more.

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