Zepto is first Indian unicorn of 2023, raises $200 million at $1.4 billion valuation

Zepto is first Indian unicorn of 2023, raises $200 million at $1.4 billion valuation

• Online grocery delivery startup Zepto has successfully raised $200 million in a Series-E funding round, achieving a valuation of $1.4 billion. This achievement marks Zepto as the first unicorn of 2023. The funding was led by StepStone Group, a US-based private markets investment firm, and is StepStone Group’s inaugural direct investment in an Indian company.

• Zepto, established in response to the pandemic, was founded in 2021 by Aadit Palicha and Kaivalya Vohra, both dropouts from Stanford University.
• Apart from winning the presidential election, Mnangagwa’s party, the Zimbabwe African National Union-Patriotic Front (Zanu-PF), secured 136 seats in the parliamentary elections. In contrast, the Citizens’ Coalition for Change (CCC) secured 73 seats. However, Zanu-PF fell short of achieving a two-thirds majority, which would have granted the party the ability to make constitutional amendments.

Also Read: Weekly Current Affairs (Persons) 22-28 July 2023 Bitbank: Who has been nominated as the first woman to lead the US Navy?

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Published date : 28 Aug 2023 04:14PM