Quick-commerce startup Zepto is now a quick-commerce unicorn, the first one in India this year.
It has raised $200 million at a valuation of $1.4 billion, the first to turn a unicorn after an 11-month unicorn drought.
The funding round was led by the StepStone Group, a US asset management firm and included Goodwater Capital and some existing investors.
This round is significant for making Zepto the first unicorn, or startup valued at over $1 billion, to be minted in India this year.
Ending unicorn drought
Zepto is the first unicorn, or startup valued at over $1 billion, to be minted in India this year since last September.
The last startup in India to turn unicorn was Molbio Diagnostics in September 2022.
Before that, at the peak of the funding boom in 2021, the country added a…
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