Quick commerce startup Zepto has raised $200 million led by YC Continuity Fund values the firm at $900 million. This fund is about a 60% jump as compared to prior fundraising in December last year valued at around $570 million.
Quick commerce directs to deliveries made in 15-30 minutes. New investor Kaiser Permanente participated in the round with existing partners including Nexus Venture Partners, Glade Brook Capital, and Lachy Groom. The Mumbai-based firm, which promises grocery deliveries in 10 minutes, faces huge competition from well-capitalized rivals such as Swiggy, Reliance Industries-backed Dunzo, and Tata Digital-owned BigBasket.
The Zomato deal is expected to value Blinkit at roughly $750 million, which is lower than when it raised its previous round. Swiggy’s Instamart, too, has shifted away from its aggressive 15-minute delivery advertising. “It is becoming increasingly evident that there would be an Amazon and Flipkart-type scenario… and we intend to quicken that trend”, said Aadit Palicha, co-founder and CEO of Zepto.