Zepto, an internet grocery firm, stated it had raised $200 million in Series E fundraise, valuing the corporate at $1.4 billion.
The spherical was led by StepStone Group. Additionally, Goodwater Capital, a consumer-focused enterprise capital firm based mostly in California, joined the spherical as a brand new investor, Zepto stated.
Existing traders together with Nexus Venture Partners, Glade Brook Capital and Lachy Groom additionally participated within the spherical, the corporate stated.
The firm stated its gross sales had tripled year-on-year and would doubtless obtain $1 billion in annualised gross sales throughout the subsequent few quarters.
Aadit Palicha, co-founder & CEO of Zepto, stated, “This business is about execution and we are succeeding because our execution is strong. We are in to build a generational company and it truly feels like this is just the beginning.”
“Even with this capital, we want to maintain our discipline, avoid complacency, and push hard to hit EBITDA positivity,” Kaivalya Vohra, co-founder & CTO of Zepto, stated in an announcement.
