Zepto, a ten-minute grocery delivery platform, has secured $200 million from its previous round, led by Y Combinator Continuity and new investor Kaiser Permanente, on May 2nd 2022. Nexus Ventures, Glade Brook, and Lachy Groom are among the existing backers who have joined the Series D round.

The nine-month-old startup valued US $900 million, missing out on unicorn status by US $100 million (post-money). To date, the company has raised $360 million.

The funds will help the Mumbai-based startup compete against Swiggy Instamart, Dunzo, and Zomato-backed BlinkIt. While the three companies have been burning money to gain market share, Aadit Palicha, the company’s co-founder and CEO, claims that the company’s per-order burn has decreased by 5X.

About Zepto:

Zepto was formed by Aadit Palicha and Kaivalya Vohra when they were 19 years old. The couple, who had previously worked on several projects, including a ride-hailing commute app for schoolchildren, and had dropped out of Stanford two years ago, brought Zepto out of stealth mode in November of last year.

 The company’s 10-minute delivery service is now active in 11 locations throughout India and processes hundreds of thousands of orders each day.

 The startup’s current annualized revenue is between US$200 million and US $400 million, a figure he plans to increase to “at least $1 billion” by the end of the quarter in March next year.

According to Palicha, Zepto’s rapid grocery delivery is merely the beginning of a decade-long adventure. Though he wouldn’t reveal the startup’s bold future ambitions, he said it’s reasonable to expect Zepto to expand into categories other than grocery in the long run, particularly those currently underrepresented by major e-commerce giants.

In the following 12 months, the business aims to expand to another 12 to 20 locations and open a few hundred more dark stores to keep the merchandise. According to Palicha, these dark establishments are designed for quick delivery. There, the startup keeps track of the most frequently ordered commodities and a portfolio of SKUs in various pricing ranges. In addition, the company intends to expand its employment to 2,000 people by next year roughly.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.

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