New Delhi, Aug 28 (KNN) After seven months into the year Zepto has grown as the first Indian Unicorn of 2023. 

It is the first unicorn, or startup valued at over USD 1 billion, to be minted in India this year. 

Molbio Diagnostics was the last to achieve unicorn status in September 2022.

India was at a highest funding boom in 2021 when it added a unicorn almost every week. 

As many as 44 startups entered the unicorn club in 2021 and 23 were added last year. 

Since then, investors tightened their purse strings and have been cherry-picking the startups they’re backing, reflecting their prudent stance.

Of the USD 200 million that Zepto has raised, USD 105 million came from the StepStone Group (USD 75 million) and Goodwater Capital (USD 30 million), both new investors in the Mumbai-based company. 

Zepto got the remaining USD 95 million from existing investors Nexus Venture Partners, Glade Brook Capital and Lachy Groom.

Barring Nexus, Zepto hasn’t actively raised money from India-centric VCs, but that may change over the years, co-founder Aadit Palicha told Moneycontrol in an interview.  (KNN Bureau)