Hyperdrive
Grocery Startup Founded by Teens Doubles Value to $570 Million
- Indian startup Zepto raised $100 million in latest round
- It competes against the likes of Swiggy, Flipkart and Amazon
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Zepto, an instant grocery delivery startup founded by two teenagers, has raised $100 million in a funding round led by Y Combinator, taking its valuation to $570 million within five months of starting services in India’s red-hot quick commerce segment.
The startup’s newest funding comes 45 days after a previous capital raise of $60 million at $225 million valuation, Aadit Palicha, co-founder and chief executive officer, said in an interview. Besides Y Combinator’s Continuity Fund, the latest round also received investments from new and existing backers like Glade Brook Capital Partners, Nexus Venture Partners, Breyer Capital and Silicon Valley investor Lachy Groom, the startup said in a statement.