Zepto nears unicorn status with $200 mn fundraising | Mint
06 November 2024
Kiranakart Technologies Pvt. Ltd, which runs 10-minute grocery delivery platform Zepto, has raised $200 million in a Series D funding round led by American technology startup accelerator Y Combinator’s Continuity Fund, which valued it at $900 million.
The round also saw the participation of new investor Kaiser Permanente, besides existing investors Nexus Venture Partners, Glade Brook Capital and Lachy Groom.
"Rather than optimising for a 10-15% higher valuation, we wanted to optimise for the right long-term partner, like Y Combinator. More importantly, we wanted to have enough cash in the bank where we are not affected by market sentiment cycles. it was not a tough round given Zepto’s focus on solid execution and reaching a high level of scale sustainably,” said Aadit Palicha, Zepto co-founder and chief executive.
Zepto claims to have posted 800% quarter-on-quarter growth in revenue , while reducing its burn rate 5X on a per-order basis.“We maintained a phenomenal 88-point NPS (net promoter score) and 60% month-1 buyer retention at scale.”
Kiranakart Technologies Pvt. Ltd, which runs 10-minute grocery delivery platform Zepto, has raised $200 million in a Series D funding round led by American technology startup accelerator Y Combinator’s Continuity Fund, which valued it at $900 million. The round also saw the participation of new investor Kaiser Permanente, besides existing investors Nexus Venture Partners, Glade Brook Capital and Lachy Groom. "Rather than optimising for a 10-15% higher valuation, we wanted to optimise for the right long-term partner, like Y Combinator. More importantly, we wanted to have enough cash in the bank where we are not affected by market sentiment cycles. it was not a tough round given Zepto’s focus on solid execution and reaching a high level of scale sustainably,” said Aadit Palicha, Zepto co-founder and chief executive. Zepto claims to have posted 800% quarter-on-quarter growth in revenue , while reducing its burn rate 5X on a per-order basis.“We maintained a phenomenal 88-point NPS (net promoter score) and 60% month-1 buyer retention at scale.”
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