Indian delivery startup Zepto has raised an additional $200 million in funding. The corporate value is estimated at $1.4 billion (approximately 1.85 trillion won), and this year, it has risen to the ranks of ‘unicorns’ (unlisted companies valued at more than $1 billion) for the first time in India.
According to foreign media such as TechCrunch on the 26th 메이저놀이터(local time), Zepto attracted Series E investment led by the American investment company Stepstone Group. Existing investors such as Goodwater Capital and Nexus Venture Partners also participated. During this investment process, Zepto was valued at $1.4 billion, becoming India’s first unicorn company this year.
Zepto received an investment of 200 million dollars in the series D stage in May of last year, and at that time, the company value was evaluated at 900 million dollars (approximately 1.194 trillion won). The cumulative investment is 560 million dollars (approximately 743 billion won).
This investment was made at a time when delivery start-ups, such as Gopuf in the US and Getir in Turkey, were reducing their operating budgets or reducing their sales. In the case of Blinkit, a Zepto competitor, it was sold for less than its cumulative investment last year.
Zepto, which was co-founded last year by Adit Palitza and Kaivalya Bohra, who dropped out of Stanford University in the US, is a company that delivers food and electronic devices. It handles 300,000 orders a day from seven cities in India. As of this year, annual sales are over $700 million, a 300% increase in one year. It is also planning an IPO in 2025 with a target of $1 billion in annual sales.
“We will not be conceited and will work hard to strengthen our positive strengths,” said Zepto co-founder and chief technology officer Kaivalya Bohra. “We will be reborn as a profitable, growing technology company that users love.”