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India’s 10-Minute Grocery Delivery App Zepto Raises $60 Million Early-Stage Funding

The startup is set to compete against some of the big and well-funded platforms, including BigBasket, Dunzo, Grofers, and Swiggy.

Zepto raises another funding

After running discreetly for 6 months, Zepto made a public announcement of successfully raising $60 million funding to expand its 10-minute grocery delivery app across the nation.

The startup is backed by US-based venture capital firms, including Y Combinator, Glade Brook Capital, and Nexus Venture Partners. Individual angel investors, including Manik Gupta, Lachy Groom, and Neeraj Arora also participated in the funding round.

The two 19-year-old masterminds behind Zepto, Aadit Palicha and Kaivalya Vohra dropped out of their computer science degrees at Stanford University to build this quick commerce app which now has a valuation of $225 million.

Zepto plans to increase its corporate team from 300 members to 900 within the next couple of months and grow its network nationwide. The startup that has been working in a beta mode across Delhi, Bangalore, and Mumbai for the last six months, now wants to expand its operation across Kolkata, Pune, Hyderabad, and Chennai over the next month.

 The USP of Zepto lies in its fast grocery delivery service to consumers from micro-warehouses. According to co-founder and CEO of Zepto, Aadit Palicha, the average delivery time on Zepto is 8.47 minutes. He also added that it takes less than a minute to complete the process of sorting and packing the items once an order is placed.

The startup is set to compete against some of the big and well-funded platforms, including BigBasket, Dunzo, Grofers, and Swiggy.

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