Instant grocery startup Zepto has raised $200 million in a new financing round as it looks to expand its 10-minute-delivery service to more cities in India and grow its network of dark stores.

The startup, whose name playfully uses a mathematical term to describe the business, offers a 10-minute grocery delivery service. 19-year-old Palicha said these dark stores, which the startup has set up and owns, are designed and optimized for fast deliveries. Nexus and Y Combinator as well as angel investors Lachy Groom, Neeraj Arora, and Manik Gupta participated in the round, which according to two people familiar with the matter, values Zepto between $200 million and $300 million.

Zepto, A 10-Minute Grocery Delivery App, Raises $200 Million At $900 Million Valuation

Zepto, A 10-Minute Grocery Delivery App, Raises $200 Million At $900 Million Valuation

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