11:02 - 28.08.2023

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August 28, Fineko/abc.az. Fast food delivery service Zepto closes new $200M funding round.

ABC.AZ reports that the startup's valuation reached $1.4 billion and made it the first recipient of the "unicorn" status in India in 2023.

The investment round was led by venture capital firm StepStone Group, with participation from Goodwater Capital, Nexus Venture Partners, Glade Brook Capital and Lachy Groom. Zepto's total funding reached $560 million.

The previous investment round took place in May 2022. Then the startup was valued at $900 million.

Zepto was launched in 2021 by 19-year-old childhood friends Aadit Palich and Kaivalia Vohra, who dropped out of a programming program at Stanford University. The company processes more than 300,000 orders a day in seven Indian cities and plans to launch an IPO by 2025.