Fast-delivery service Zepto has overcome a slow year for Indian tech start-up funding, becoming the country’s first “unicorn” of 2023 with an investment round that pushed its valuation past $1bn.
The two-year-old business operates in seven Indian cities, selling and delivering goods from salt to cigarettes in minutes. It announced a $200mn fundraising on Friday, valuing it at $1.4bn. US investment group StepStone led its latest round, while other backers included Bengaluru-based Nexus Venture Partners, which was an investor in delivery group Zomato.
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