Existing backer Y Combinator Continuity led Zepto’s Series D round, valuing the startup at about USD 900 million, up from USD 570 million in its December 2021 Series C round and USD 225 million in a round unveiled in late October 2021. There’s no secondary transaction in the new round, which brings the startup’s to-date raise to USD 360 million.
The company’s 10-minute delivery service is operational in 11 cities across India and it processes hundreds of thousands of orders each day. The startup’s current annualised revenue is between USD 200 million to USD 400 million, according to the company.
Zepto plans to expand to an additional 12 to 20 cities in the until 2022 and set up a few hundred more dark stores, which it uses to store inventory. These dark stores are optimised for fast delivery. There, the startup stores the most ordered items and a catalog of SKUs in different price ranges.
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