India-based grocery delivery startup Zepto completed a $340 million round, taking its valuation to nearly $5 billion from $3.6 billion in June and $1.4 billion last August. Sources close to the company, General Catalyst ve Mars Growth CapitalHe said he is leading the Series G round, which will close in a few days.
With this round, Zepto reached a valuation of $4.6 billion, according to a specifications seen by TechCrunch.
He left the computer department at Stanford University. Aadit Palicha ve Kaivalya Vohra Zepto, founded by Zepto, delivers groceries and daily needs in just 10 minutes. The company has more than 5 thousand products such as fresh fruits and vegetables, daily products, dairy products, health and hygiene. The initiative also allows users to order products such as coffee and tea, as well as grocery items. The company, which operates in Mumbai, Delhi, Bengaluru, Gurugram and Chenna, is claimed to have increased its sales by 300 percent every year.
Zepto’s ability to provide customers with quick access to grocery products saves time, especially for people with busy work schedules. Zepto is on track to generate more than $1.5 billion in annual sales.
Zepto aims to increase its store network to over 700 by March 2025. The startup, whose supporters include Nexus, Lightspeed, Avra and StepStone, announced that its revenue increased by 140 percent in June compared to the previous year. The company works with more than 50 thousand delivery partners and adds more than 5 thousand delivery partners every month.
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