Zepto, A 10 Minute Grocery Delivery Service Startup Founded By Two Teenagers In India, Raised $200 Million In A New Round Of Financing, With A Company Valuation Of About $900 Million, Just Nine Months After They Founded The Company. In A Statement Late Monday, Zepto Said That Kaiser Permanente, A New Investor, Had Participated In The Current Round Of Financing, Which Was Less Than Five Months From The Company's Previous Financing.
Early Investors Nexus Venture Partners, Glade Brook Capital And Silicon Valley Investor Lachy Groom All Increased Their Investment In This Round Of Financing. This Brings The Total Financing Of Zepto To $360 Million.
Zepto Was Founded By Two Childhood Friends, Aadit Palicha And Kaivalya Vohra. They Dropped Out Of The Computer Science Program Of Stanford University And Returned To India To Become E-commerce Entrepreneurs. Both Are Only 19 Years Old.
In A Statement, Zepto CEO Palicha Said That The Company's Revenue Increased By 800% Month On Month In The First Quarter, The Number Of Employees Increased To 1000, And Began To Make Profits In Small And Micro Markets Or Dense Urban Communities Served By Warehouses Or "dark Stores".
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