Quick commerce startup Zepto raises $200 Million in Series D Funding

• ByStartupStory     |    May 3, 2022

Zepto received $200 Million investments in a Series D funding round which was led by the Y Combinator’s Continuity fund. The valuation of the startup which was established merely nine months ago soared to a massive $900 Mn from $570 Mn, which is only miles away from becoming a unicorn. The startup was founded by two nineteen year olds in 2021, Aadit Palicha and Kaivalya Vohra who were Stanford University dropouts from computer science degree courses to focus on their new startup, which was formerly known as Kiranakart.

The funding received from various institutional investors and existing investors will be used to expand Zepto’s 10 minute delivery service to more cities in the country and also grow its dark stores. The start up is currently operational in 10 cities and had an annualized revenue between $200 Mn and $400 Mn, according to Zepto’s website and Palicha. 

The startup had received various investments in the last year since it was established. The announcement of the funding comes after the news that one of the co-founders Ansh Nanda filed an FIR against co-founders and Nexus Ventures’ partner Suvir Sujan. Nexus and the other co-founders approached the Delhi High Court in response to the FIR filed against them to quash the FIR and other notices.

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