Mumbai-based quick-commerce delivery startup Zepto has raised $200 Mn in its Series E funding round at a valuation of $1.4 Bn valuation, becoming the first unicorn of 2023 and ending the 11-month unicorn drought.
The funding round saw participation from new investors StepStone Group, which is the limited partner in Zepto’s existing investor Nexus Venture Partners, and Goodwater Capital. Existing investors Nexus Venture Partners, Glade Brook Capital, Lachy Groom, among others, also participated in the round.
While the startup didn’t disclose how it will utilize the fresh funds, it said it plans to go public by 2025.