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Zepto is India's 1st unicorn of 2023
August 26, 2023
|Business Standard
Raises $200 mn at $1.4 bn valuation
Quick commerce firm Zepto raised $200 million in a Series-E funding round at a $1.4 billion valuation, becoming the only Indian startup to turn a unicorn this year, and the 110th so far.
This signals a potential thaw in the funding winter, which has impacted the Indian startup sector for the past one and a half years. The fundraise also indicates investor confidence in the fledgling sector.
"Everyone thought this business model was nonsense, but it is working. It has turned out to be the fastest-growing category in India and will be the fastest ever to hit profitability," Zepto Chief Executive Officer Aadit Palicha told Business Standard.
The Mumbai-headquartered company said it planned to go public by 2025.
هذه القصة من طبعة August 26, 2023 من Business Standard.
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