Zepto in talks for $300 million raise at $2.5-3 billion valuation
Zepto eyes $300 million fundraise for $2.5-3 billion valuation, targeting Ebitda positivity with $1.2 billion sales. Blinkit's GMV surpasses $1 billion; Zomato holds $1.5 billion cash; Swiggy prepares for IPO. Key Points
Economic TimesZepto’s $300 million funding; Meta taps Reliance for data centre
The Mumbai-based Zepto is eyeing a valuation of around $2.5-3 billion, as against the $1.4 billion it was assigned on turning unicorn last year, sources said. This is a huge bump up amid a largely sluggish funding market even for Zepto which has been growing fast. Key Points
Economic TimesGrocery startup Zepto becomes India's first unicorn in nearly a year in new funding round
Indian grocery startup Zepto said on Friday it has raised $200 million in fresh funding at a valuation of $1.4 billion, making it the first startup in the country to cross the billion-dollar valuation mark in nearly a year. Key Points
ReutersZepto shifting its base to Total Mall in Sarjapur, Bengaluru: Report
Zepto had earlier asked its 1,700-1,800 employees to move from its current base in Powai, Mumbai, to Bengaluru. However, the timeline was pushed back due to delays in finalising an appropriate location. Key Points
India TodayZepto, Blinkit to bulk up carts; no let up in Google vs Indian apps tussle
Quick-commerce platforms Blinkit and Zepto are set to expand beyond groceries, adding categories like fashion and electronics. This and more in todays ETtech Morning Dispatch. Key Points
Economic Times
Online deliveries in deep water after heavy rains as monsoon lashes northern India
Heavy rains in urban areas, including Delhi and the National Capital Region, have severely affected online deliveries. The flooding of roads and the overwhelmed drainage system caused delivery services such as Swiggy, Zomato, Zepto, and Milk Basket to stop accepting orders. Many consumers, especially those in need of daily essentials, food, and medicine during the pandemic feel cut off. Restaurants are also facing severe disruption, with kitchen operations, supplies, and dine-ins being hampered as well. Key Points
Economic TimesIndia gets 2nd unicorn of 2023 as InCred raises ₹500 crore
InCred unicorn: The feat came after it raised $60 million at a valuation of 1.04 billion dollars. Key Points
Hindustan TimesGet iPhone 16 at a MASSIVE discount of ₹10,000: Here's how the deal works
Zepto has launched a limited-time discount on the iPhone 16, reducing its price from ₹79,900 to ₹69,900. The device features an A18 chip, a 48MP Fusion camera, and a 6.1-inch Super Retina XDR display, with delivery guaranteed within ten minutes. Key Points
mintAs air turns toxic, NCR companies take steps to protect staff
The AQI crossed 700 (a value above 150 is considered unhealthy) in many parts of the NCR on Thursday, forcing the shutting down of primary schools. Over a dozen companies including Deloitte, KPMG, Panasonic, BigBasket, BluSmart, Zepto and CIEL HR Services that ET spoke with said they are taking initiatives include offering work-from-home options to employees, providing masks at offices and to frontline staff, installing air purifiers and indoor plants as well having a doctor on call. Key Points
Economic Times