After 5 months of beginning its services, Zepto, a quick delivery service firm settled by adolescents, acquired $ 100 million during a deal worth by Startups, increasing its worth to $ 570 million.
The recent donations came 45 days since the startup’s earlier $ 60 million shares increased, which valued the company at $ 225 million.
The startup competes with Swiggy, Flipkart and Amazon
Zepto is founded by two Stanford University students who dropped out of a computer science school and moved back to India to begin fast trading.
The company, which guarantees to deliver vital products in 10 mins, began operations in Mumbai previously so far and has already grown to Bangalore, Delhi, and several further towns.
In India, a $ 1 trillion retail market, meal distribution is gaining steam. SoftBank Group Corp., Google Alphabet Inc., Amazon.com Inc., and Walmart Inc. have been among the market competitors.
The firm operates a hundred micro-warehouses and sells about 2,500 products, such as new local food, culinary staples, sweets, drinks, care products, & domestic household cleaners.