LIQUiDITY Group reposted this
Bloomberg announced Dragon Fund recently co-led alongside General Catalyst the $340 million funding round for Zepto, an Indian online grocery startup, elevating its valuation by 40% to $5 billion. The round also attracted new investor EPIQ Capital Group, with existing backers like Lightspeed Venture Partners and DST Global increasing their stakes. This funding surge underscores the ongoing enthusiasm among foreign investors for India’s e-commerce market, even as other sectors face challenges. The article discussed that Zepto, founded in 2021 by childhood friends and Stanford dropouts Aadit Palicha and Kaivalya V., has quickly become a significant player in India’s hyper-competitive grocery delivery market. The investment was led on behalf of Dragon Fund by Chief Investment Officer, Ridhi Chaudhary, and Managing Director, Aakash Tulsani