Zepto, a 10-minute delivery app, has raised $665 million at a valuation of $3.6 billion. The funding round was led by Nexus Venture Partners, which has been a consistent investor in Zepto since its seed round. The co-founders, Aadit Palicha and Kaivalya Vohra, have turned their college idea into a successful business. Zepto plans to double its outlets following this funding. The significant investment may trigger a discounting war among top quick commerce players such as Blinkit, Instamart, and Flipkart, which is expected to launch its quick delivery service next month. Anu Hariharan, whose fund led the round, called Zepto the 'Hyperlocal Amazon'. Nexus also involved its limited partner, StepStone, in the investment.
#TopStory on ETtech: #Quick commerce battle heats up ⬆️ 🤝| Flipkart explored a deal with Swiggy for a pie of quick commerce ✍️ @digbijaymishra1 Read more at: https://t.co/gMpc9JTCEf https://t.co/e6U57XdOnR
#Topstory on ETtech: Quickcommerce battel heats up 🤝| #Flipkart explored a deal with #Swiggy for a pie of quick commerce By @digbijaymishra1 Read more at: https://t.co/oiC1x0vaub https://t.co/mJpgZNx05D
Prosus' Swiggy disclosure suggests further market share gains for Zomato - Goldman Sachs https://t.co/VlqA7IlIpg
🚨🚨Flipkart and Swiggy–two of the largest consumer internet firms–explored a stake buy deal before the latter filed for IPO. Prosus–Swiggy’s largest investor–was in the loop too. What were the contours of the discussion and why this was on the table? https://t.co/L1TEEFmEUV
🚨🤝 Flipkart explored a potential stake purchase in #Swiggy about eight to ten months ago as two of India’s largest consumer internet firms sought to ally amid disruption set off by the rise of quick commerce, investors aware of the matter said. Details 🧵👇
☀️ Good morning, readers! Kick-start your day with these top stories from @ETtech ■ #Flipkart-Swiggy deal talks ■ Corning’s India plan ■ #GenAI push to IT firms, GCCs ■ Prosus writes off Byju's stake ■ ETtech Done Deals https://t.co/lxmNcvEeAv
#MCTech3 | Top tech and startup news this evening - ✳️Byju's worth zero for Prosus ✳️Boost for IndiaAI: Govt to procure GPUs soon ✳️Meta AI makes India debut Sign up for the newsletter⤵️ https://t.co/qj1VwCCmWV #Byjus #GPUs #Meta #AI
#Zepto’s co-founder Aadit Palicha said the company could achieve a $3.6 billion valuation only because it is based in #India, and that it aims to become a $50 billion company. https://t.co/amz61sO1IA
.@Prosus_Ventures announced its stake in IPO-bound food delivery platform Swiggy marginally depreciated to 32.65% in 2024 from 32.83% in 2023. Read more at: https://t.co/L9vyQfPufH.
Indian unicorn Zepto (@ZeptoNow) grabs $665M led by Nexus Venture Partners (@NexusVP) 🇮🇳💵 @aadit_palicha @v0hra https://t.co/aF2mYGHqkq #funding #tech #news #India
Prosus on Swiggy Swiggy is an important part of our portfolio and we are a big believer in swiggy. We can't comment on if we are going to sell in IPO or not. We really like the biz and we hope we can help the biz performance.
Prosus-backed PayU sees 38% surge in revenue mainly driven by the core payments business in India https://t.co/cK3AUUQMv3 via @moneycontrolcom
🚨 Swiggy’s FY24 revenue up 24%; quick commerce unit economics improve: #Prosus In its tenth year of operations, #Swiggy's gross order value grew 26% year on year, and its ever-transacted user base reached 104 million at the end of December 2023, it said https://t.co/ulQElLy0xO
Last week when Zepto raised $660Mn, Anu Hariharan whose fund led the round called Zepto “Hyperlocal Amazon”. Amazon’s inability to scale in quick commerce has clearly been leveraged by players like Zepto.
🚨🚨Nexus’ investment in Zepto represents one of the boldest venture capital bets in India. It led the rapid-grocery player’s seed round and has participated in all subsequent funding deals, which is rare for an early-stage VC. The firm also got its limited partner, StepStone…
🚨🛒 Discount war on the cards in quick commerce The $665 million funding round at #Zepto may trigger a discounting war among top players such as Blinkit, Instamart and new entrant Flipkart, which is expected to launch its quick delivery next month. Details 👇🧵
#MCTrends | Co-founders Aadit Palicha & Kaivalya Vohra turned their college idea into reality with Zepto, now valued at $3.6B. 🚀📈 Know more on it here 👇 https://t.co/ggQ4WkEZmc #Zepto #valuations #AaditPalicha #KaivalyaVohra
Indian E-Commerce Unicorn Zepto Plans To Double Outlets After Raising Funding At $3.6 Billion Valuation https://t.co/k8G46bV74o
Zepto, a 10-minute delivery app, raises $665M at $3.6B valuation https://t.co/5QUaR7nTGb via @techcrunch