![[Funding alert] Unicorn Startup Zepto Raises Another $31 Mn in Series E Round](https://viestories.com/wp-content/uploads/2023/11/Unicorn-Startup-Zepto-Raises-Another-31-Mn-in-Series-E-Round.webp "Unicorn-Startup-Zepto-Raises-Another-31-Mn-in-Series-E-Round")
Zepto, the unicorn of rapid ecommerce based in Mumbai, secured an additional $31.25 million in a Series E fundraising round led by Goodwater Capital and Nexus Venture Partners.
In addition, the company’s documentation with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) indicates that Mangum II LLC and angel investors Oliver and Lish Jung took part in the financing, as reported by ET.
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StepStone Group led Zepto’s $200 million Series E fundraising in August of this year, which put the fastest-growing Indian online grocery retailer’s valuation at $1.4 billion. Ankit Agarwal was most recently appointed chief product officer for Zepto.
Zepto was established in 2021 by Aadit Palicha and Kaivalya Vohora in response to the growing need for quick e-commerce delivery amid the Covid-19 pandemic. Zepto has competition from companies such as Instamart by Swiggy, Blinkit, owned by Zomato, and Dunzo, backed by Reliance.
About Zepto
With ten locations, a network of highly optimized delivery centers, and robust technological capabilities, the company is transforming the $600 billion Indian grocery market into one that is easier to shop for and more convenient. In addition to groceries, Zepto now offers a cafe service that lets users purchase tea, coffee, and other café goods in addition to their groceries.
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