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10-min delivery startup Zepto raised $60 million led by Glade Brook Capital

Quick commerce grocery delivery app Zepto raised $60 million led by US -based investment fund Glade Brook Capital, at a post-money valuation of $225 million where Venture capital fund Nexus Venture Partners & Silicon Valley’s Y Combinator and the prominent angel investors including WhatsApp's former Chief Business Officer Neeraj Arora participated.

Zepto promises to deliver groceries in 10 minutes, Zepto operates out of its network of ‘cloud stores’ or micro-warehouses, which it owns, to fulfil orders within the time frame. Zepto plans to use the funds to open more dark stores in newer cities, expand its customer base, and hire more employees. It intends to open 100 dark stores by the end of the year, serving approximately 100 pin codes.

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