Zepto, a 10-minute grocery delivery app startup founded by two teenage
Stanford University dropouts has raised $60 million in funding from investors like Y Combinator and
Glade Brook Capital to boost its presence in India’s crowded but fast-growing grocery delivery market.
Established earlier this year by 19-year-olds Aadit Palicha and Kaivalya Vohra, Zepto is already backed by Nexus Venture, Global Founders and Silicon Valley angel investors Lachy Groom and Neeraj Arora, the Mumbai-based startup said in a statement Sunday. The firm is valued “between $200 million and $300 million,” Palicha, co-founder and chief executive officer, said on a call without revealing the exact valuation.
Palicha and Vohra got admission into Stanford University’s vaunted computer science engineering program last year but decided to quit to pursue entrepreneurship. They zeroed in on grocery delivery -- an area that got a big boost amid the pandemic-led lockdowns in India -- and set about building a service which launched earlier this year.
"Startup" - Google News
November 01, 2021 at 01:29AM
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Teenage Stanford Dropouts' Grocery Startup Gets $60 Million - Bloomberg
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