Zepto becomes first unicorn this year, raises $200 mn at $1.4 bn valuation

This comes amid a funding slowdown where startups, across the board, have found it challenging to raise capital

Quick commerce firm Zepto raised $200 million in a Series-E funding round at a $1.4 billion valuation, becoming the only Indian startup to turn a unicorn this year, and the 110th so far.
 

This signals a potential thaw in the funding winter, which has impacted the Indian startup sector for the past one and a half years. The fundraise also indicates investor confidence in the fledgling sector.
 

“Everyone thought this business model was nonsense, but it is working. It has turned out to be the fastest-growing category in India and will be the fastest ever to hit profitability,” Zepto Chief