Published: Release date – 10:41 am Tuesday – May 3 22
Bombay: Ten-minute delivery platform Zepto announced Tuesday that it had raised $200 million, taking its valuation to around $900 million.
Just nine months after launch, Zepto saw record revenue growth of 800 percent in its most recent quarter.
“We’ve maintained a phenomenal NPS (Net Promoter Score) of 88 points and ‘Month-1 Buyer Retention’ of 60 percent at scale. This execution over the past few months has made it clear to investors that Zepto will be one of the winners in Indian Q-Commerce,” said Aadit Palicha, Co-Founder and CEO.
The latest Series D funding round was led by Y Combinator with new investor Kaiser Permanente.
Key existing investors such as Nexus Venture Partners, Glade Brook Capital and Lachy Groom also increased their investments in the platform.
Zepto now plans to continue its sustained growth across India.
The company employs 1,000 people and plans to recruit across all functions.
Zepto is also testing a service to deliver coffee, chai and other items in 10 minutes to select areas in Mumbai.
“We have made micromarkets profitable and significantly reduced burning while growing to scale of hundreds of thousands of orders per day,” said Kaivalya Vohra, co-founder and CTO.
Palicha and Vohra left Stanford University to set up Zepto in India.
The platform has raised $360 million from investors in Silicon Valley and India so far.