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Unicorn startup Zepto raises another $31.25M in Series E round
IndianStartupNews
·
1y ago
Medial
Mumbai-based quick commerce startup Zepto has raised $31.25 million in a Series E funding round led by Goodwater Capital and Nexus Venture Partners. Zepto plans to go public by 2025 and became a unicorn after raising $200 million in funding. The startup promises to deliver groceries in under 10 minutes and currently holds about 20-21% market share in the quick commerce sector. However, Zepto's financial numbers show significant growth in revenue but also indicate high net losses, posing challenges for achieving profitability.
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Related News
Decoding Zepto's Unicorn round, valuation and shareholding
Entrackr
·
1y ago
Medial
Zepto, an Indian quick commerce platform, achieved unicorn status after raising $200 million in a Series E round led by StepStone. The company allotted 6,52,948 Series E preference shares at an issue price of $297.6 per share to raise $194.2 million. StepStone made the largest investment of $76 million, with Nexus Venture and Goodwater Infinity contributing $50 million and $25 million, respectively. Existing investors Glade Brook and Lachy Groom added $21 million and $20 million to the round. Zepto is valued at $1.32 billion post-allotment and has raised over $560 million in funding to date.
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From Zepto To GradRight — Indian Startups Raised $231 Mn This Week
Inc42
·
1y ago
Medial
In the fourth week of August, the Indian startup ecosystem secured $231 million across 16 funding deals, marking a significant rebound from the previous week's modest $4.4 million raised over seven deals. Zepto, a quick commerce startup, led the way with a $200 million Series E funding round, becoming the first unicorn of 2023. Titan, a Tata-owned watchmaking company, acquired the remaining 27.18% stake in omnichannel jewelry startup CaratLane for INR 4,621 crore ($617 million), valuing the startup at around $2 billion. The funding surge also saw Veda VC announcing the first close of its INR 250 crore fund for technology startups.
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InMobi, Zepto-backer MUFG Bank set to add another Indian unicorn to its portfolio
VCCircle
·
9m ago
Medial
MUFG Bank, an investor in Indian startups InMobi and Zepto, is reportedly set to add another Indian unicorn to its portfolio. The Japanese financial group's banking subsidiary is said to be in talks with a homegrown unicorn. MUFG Bank, a subsidiary of Mitsubishi UFJ Financial Group, looks to further expand its investment in the Indian startup ecosystem.
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Shiprocket raises $11 Mn from McKinsey at flat valuation
Entrackr
·
1y ago
Medial
Shiprocket, a logistics and supply chain solutions provider, has raised Rs 90.7 crore ($11 million) in an extended Series E funding round led by McKinsey's investment arm, AFOS LLC. This marks the first equity funding round for Shiprocket this year. Following the investment, McKinsey will hold a 0.91% stake in the company, valuing it at $1.23 billion. Shiprocket offers integration services to retailers for their e-commerce platforms and turned unicorn in August 2021. The company reported a revenue of Rs 611 crore in FY22 and a loss of Rs 93 crore.
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US-based StepStone Group’s debut Indian investment propels Zepto to unicorn status
Business Today
·
1y ago
Medial
New York-headquartered private markets investment firm StepStone Group has led a $200-million Series E funding in to quick commerce start-up Zepto, helping it become the first unicorn of the year in India. The deal valued the Bengaluru-based company at $1.4 billion. The transaction marks the first direct investment of StepStone in an Indian company.
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How much money has Zepto, founded by two dropouts at age 19, raised so far?
Inshorts
·
1y ago
Medial
Quick commerce startup Zepto, founded by Stanford dropouts Aadit Palicha and Kaivalya Vohra at age 19, raised $60 million in October 2021. Later in December 2021, it raised $100 million in Series C, followed by $200 million in May 2022. Zepto became a unicorn in 2023 after raising $235 million. It has now raised $665 million at $3.6 billion valuation.
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Fintech unicorn OneCard seeks $100 Mn at flat valuation
Entrackr
·
1y ago
Medial
Mobile-first credit card startup OneCard, operated by FPL Technologies, is reportedly in discussions to raise up to $100 million in a Series E financing round with both new and existing investors. While this would be the company's first funding round of the year, sources suggest that the valuation will remain largely unchanged, likely around $1.5 billion. OneCard offers co-branded credit cards and has a credit score tracking and management app called OneScore with over 80 million users. The company turned unicorn in 2022 after a Series D round led by Temasek.
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Zetwerk raises $120 Mn at flat valuation
Entrackr
·
1y ago
Medial
B2B e-commerce unicorn Zetwerk has raised $120 million in a Series F funding round led by Avenir Growth Capital. However, the valuation of the Bengaluru-based company remained unchanged. This is the first equity investment for Zetwerk in 2023. The funding round also saw participation from Footpath Ventures, Greenoaks Capital, Steadview Capital, D1 Capital, and Lightspeed. Zetwerk connects buyers and suppliers for custom manufacturing jobs and operates in over 15 countries, serving more than 100 customers across various industries. The company's revenue grew significantly in FY22 while its losses increased moderately.
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InCred turns unicorn after raising $60 Mn
Entrackr
·
1y ago
Medial
Fintech firm InCred has become a unicorn after raising $60 million in a Series D round of funding. The Mumbai-based non-banking finance company (NBFC) did not disclose the exact valuation or the names of the investors participating in the round. InCred's operating scale has grown by 77.4% to Rs 865.6 crore during the last fiscal year, and its profits have jumped 3.5 times to Rs 109 crore. This makes InCred the second company to achieve unicorn status in 2023, following Zepto.
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Funding momentum picks up this week due to two large deals
VCCircle
·
8m ago
Medial
Startups saw an increase in capital raised in the week ended 22 November, driven by two major deals. Quick commerce unicorn Zepto secured a large funding round, with a $350 million investment led by undisclosed investors. This funding momentum indicates continued investor confidence in the startup ecosystem.
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