Zepto raises $340 million at $5 billion valuation
Zepto being the fast-growing quick commerce startup is still obsessed with its funding round, it is able to announce $340 million in new funding at a $5 billion valuation.
Zepto was established by Aadit Palicha and Kaivalya Vohra which rapidly expand its service and providing 10-minutes grocery delivery in every major city of India. The high growth opportunity for the company has been its key strength to expand its market coverage and achieve high unit sales figures especially among consumers who would prefer to buy quick relief from headache through convenient locations such as cities. This new round of financing will be key in growing Zepto’s operations, additional development on its technology, as well as developing its supply chain accommodations.
That such a business has managed to reach a $5 billion valuation is living proof of the strong business model that Zepto has in place and the ability that it has to disrupt the market in India. There is an expectation for the expansion of the company in the market which is gradually shifting towards instant delivery services. It is expected that Zepto will use the capital to continue to scale up its company, mainly through geographical outreach, diversification of products, and the development of systems to enhance the client’s experience.
This latest round of funding has placed Zepto in a good space to challenge some of the other giants like Swiggy’s Instamart and Blinkit into the rapidly growing quick commerce marketplace.
