DoorDash-Type Indian Delivery Startup Clocks $540 Million Valuation: Report

Indian grocery startup Zepto, that offers a quick 10-minute delivery turnaround on orders, on Monday secured another $100 million in funding from startup accelerator Y Combinator, and others to clock a valuation of $570 million, according to a news report.

Investors in the latest round include existing financiers like Glade Brook Capital Partners, Nexus Venture Partners, Silicon Valley angel investor Lachy Groom with the new addition of technology investor Breyer Capital, Bloomberg reported.

“The founders bring Doordash [ (DASH) – Get DoorDash, Inc. Class A Report]-like execution to the quick commerce model,”  Anu Hariharan, a partner at Y Combinator’s Continuity Fund, told Bloomberg. “The startup is adding 100,000 new customers every week,” Hariharan told Bloomberg.

The latest investment comes six weeks after the company, founded by two teenage Stanford dropouts, raised $60 million from Y Combinator and Glade Brook Capital to expand its presence in India’s competitive grocery delivery market, at a $225 million valuation.

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