19-year-old duo dropped out of Stanford computer science program to set up a startup1 min read . Updated: 01 Nov 2021, 10:28 AM IST
- Zepto will be competing with multiple bigger online grocers such as the SoftBank Group Corp-backed Grofers and the Google-backed Dunzo for a slice of the rapid grocery delivery segment
Zepto, a 10-minute grocery delivery app startup founded by two teenage Stanford University dropouts has raised $60 million in funding from investors like Y Combinator and Glade Brook Capital to boost its presence in India’s crowded but fast-growing grocery delivery market. Established earlier this year by 19-year-olds Aadit Palicha and Kaivalya Vohra, Zepto is already backed by Nexus Venture, Global Founders and Silicon Valley angel investors Lachy Groom and Neeraj Arora, the Mumbai-based startup said in a statement Sunday. The firm is valued “between $200 million and $300 million," Palicha, co-founder and chief executive officer, said on a call without revealing the exact valuation.
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