Mumbai teens' instant grocery delivery startup Zepto boosts valuation after raising $100M
Instant grocery delivery business, Zepto, has secured $100 million in a funding round. The startup's valuation has now reached over $500 million. Two teenagers established Zepto, an instant grocery delivery startup, which has able to raise $100 million in a round of funding. The round led by Y Combinator led the round with which the company's valuation has reached $570 million. This comes within five months after Zepto launched services in India's red-hot quick commerce segment. According to Aadit Palicha, co-founder and CEO, the startup's latest investment comes 45 days after it earlier raised capital of $60 million at a $225 million valuation. The current round included investments from new and previous backers, in addition to Y Combinator's Continuity Fund. Those backers include Nexus Venture Partners, Breyer Capital, Glade Brook Capital Partners, and Silicon Valley investor Lachy Groom, according to a statement from the business . Zepto, which...