Zepto, an online grocery delivery startup, has broken India’s unicorn drought by securing $200 million in Series-E funding, achieving a valuation of $1.4 billion. This marks the first startup to become a unicorn in 2023. StepStone Group, based in the US, led the funding round in its first direct investment in an Indian company. Additionally, California-based consumer-focused venture capital firm Goodwater Capital participated as a new investor. Zepto, founded in 2021 by Aadit Palicha and Kaivalya Vohra, has rapidly delivered over 6,000 grocery products within 10 minutes through a network of delivery hubs. The startup plans to go public by 2025 while focusing on profitability and expansion.
Zepto will be the first unicorn start-up in 2023, with ambitions to go public in 2025
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