Zepto Becomes India’s First Unicorn Startup In 2023, Raises 200 Million – News18

Startups have been receiving increased attention in India in recent years. The number of startups has increased rapidly of late, and they have been receiving support from all dimensions. Today, startups are considered an important engine for growth and job generation in a country. Through their innovations and technology, startups have the ability to provide impactful solutions and can provide development. Most of the startups aim to become unicorns in India. A unicorn is a privately owned startup company that has a value of USD 1 billion.

India has had many unicorns in the past including BYJU, Swiggy, OYO and Ola Cabs. Recently, another name that was added to the list was Zepto. Zepto, a quick-commerce delivery startup, has become the latest addition to the list of unicorns in India. Zepto has raised USD 200 million, becoming the first unicorn of 2023 and ending the 11-month drought of unicorns in India. Major investors in this round were StepStone Group and Goodwater Capital. So far, Zepto has not revealed how they will utilise the funds, but they have revealed that they plan to go public by 2025. Zepto competes with other quick-commerce startups like Swiggy, Dunzo, Blinkit, and more.

A few months back, a list by the World of Statistics revealed that India is in the third position in the world with the most unicorn startups. The list includes countries like China, the UK, Germany and the US. Reportedly, the US holds the first position with the most unicorns in the world. Apart from that, China is in the second position. The fourth position is held by the UK, and the fifth position is held by Germany.

Having a high number of unicorns is considered one of the most important factors in determining the growth of a country. As India is still a growing economy, the number of these unicorns is expected to rise in the next few years.