Alright folks, gather ’round, because we’re about to take you on a wild ride through the world of startups. Our protagonist today, Zepto – the instant grocery delivery startup that has been making waves!
- The Headline: Zepto, despite the odds, has just secured a cool $200 million, skyrocketing its valuation to a whopping $1.4 billion. That’s right, folks! It’s the first Indian startup this year to join the exclusive Unicorn Club!
- The Key Players: Leading the Series E funding round is none other than StepStone Group. Goodwater Capital and existing investors like Nexus Venture Partners, Glade Brook Capital and Lachy Groom also threw in their hats.
- The Numbers Game: Zepto’s valuation has jumped from $900 million in May last year to $1.4 billion now. They’ve amassed around $560 million to date with no secondary transactions in the latest round. Quite a feat, wouldn’t you agree?
- The Founders: Meet Aadit Palicha and Kaivalya Vohra, the visionary founders of Zepto who started this journey at the age of 19. Within a few short months, Zepto has gone from laying low to soaring high, now processing 300,000 orders per day across seven cities in India.
- The Strategy: Zepto uses the dark stores model, operating hundreds of these profit-making stores in popular neighborhoods. They’ve reduced their costs significantly and are gunning for an IPO with a company-wide EBIDTA positive metric within the next 12-15 months.
- The Future: The startup, currently boasting an annualized revenue run rate exceeding $700 million, has grown sales by 300% YoY and is aiming for $1 billion in sales within the next few quarters. They’re heavily investing in technology and product to drive P&L improvement.
And that, ladies and gentlemen, is how you do it in the big leagues!
