Just nine months after launching, Indian quick commerce firm Zepto has announced its $200 million Series D fundraise, valuing the company at around $900 million.

Zepto said in a statement that Y Combinator Continuity doubled down and led Zepto’s Series D, with new investor Kaiser Permanente joining in to back the company.

All key existing investors, including Nexus Venture Partners, Glade Brook Capital, and Lachy Groom, have also increased their investments, marking another vote of confidence in the company’s trajectory.

With capital now in the bank, Zepto plans to continue growing sustainably across India. The company has also built an all-star bench of executive talent and grown the team to over 1,000 people in a few months – they continue to hire across all functions, including engineering, analytics, operations, marketing, finance, and human resource.

“We posted 800 percent quarter on quarter revenue growth, while burn has come down 5 times on a per-order basis. Our team achieved this while continuing to delight our customers – we maintained a phenomenal 88-point net promoter score (NPS) and 60 percent month-1 buyer retention at scale. This unbelievable execution over the past few months has made it clear to investors that Zepto will be one of the winners in Indian quick commerce,” said Zepto Co-Founder and Chief Executive Officer Aadit Palicha.

Zepto is one of the fastest-growing startups in India today. Just nine months after launching, the company has raised a total of $360 million from marquee investors in Silicon Valley and India. Its founders Aadit Palicha and Kaivalya Vohra, dropped out of Stanford University to build Zepto in India. The company which has consistently delivered 3,000+ products in 10 minutes aims to make 10-minute delivery the new normal.

“Our rigorous focus on unit economics is the main reason why we’ve had such an amazing trajectory as a company. We’ve turned micro-markets profitable and brought down burn significantly while growing to a scale of hundreds of thousands of orders per day,” said Zepto Co-Founder and Chief Technology Officer Kaivalya.

According to the statement, Zepto is also piloting a service to deliver coffee, chai, and other café items in 10 minutes across select areas in Mumbai. The new category – termed ‘Zepto Café’ – is being received quite well by early customers and if the pilot continues to go well, Zepto plans to scale this service across India soon.

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