Zepto on Its Way to Raise $250 Million

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Zepto on Its Way to Raise 250 Million
Zepto Startup Funding News Zepto, a 10-minute
delivery service for groceries, Zepto has
attracted a lot of attention from both
investors. While customers are impressed by
its speedy delivery service, huge American tech
investors are optimistic about the company's
prospects for the future. Zepto is a
Mumbai-based company that has plans to raise over
250 million in a fresh round, as per three
sources who are aware of the deal. One
anonymous person familiar with the details
of the deal told us that Zepto had
already committed about 125 million, half
of the round size is in conversation to
raise another 125 million from existing and
new investors. Entrackr has complete
information on 11 November that Zepto is
seeking to raise over 100 million dollars in
a new capital round, with a valuation in the
range of 500 million. According to the sources,
the talks are past the early stage, as the
conditions of the agreement are being worked out.
With the addition of funds, the value is expected
to rise. "The company will be valued at about 1
billion (post-money) after this round," according
to a person who also asked to remain
anonymous. Also read CRED is Looking to Acquire
Happay
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Entrackr couldn't identify the names of investors
who could be part of the round. Y Combinator,
Glade Brook Capital, Nexus, Global Founders
Capital are its current supporters. Zepto
recently raised 60 million with a value
of 250 million. The queries addressed at
Zepto or Y Combinator didn't elicit immediate
responses. Zepto will become one of the
fastest startups to reach unicorn status if
the deal is approved. The marketplace roll-up
system Mensa Brands recently became a unicorn
within six months from its beginning.
Professional network platform Apna also achieved
the feat within 21 months. You may also like
Pepperfry Receives 10 Million in Debt Zepto
allows online grocery orders and can
deliver the groceries within 10 minutes to
some locations in Mumbai, Bengaluru,
Hyderabad and Delhi (NCR). According to the
company's website, the service will soon be
available in Kolkata along with Pune.