Indian Delivery Star Discusses $5 Billion Valuation

Last week, I reported that Zepto, an Indian instant-delivery company, was closing a new round at a valuation of $3.6 billion, the first financing for a non–artificial intelligence startup I’ve written about in ages. Since then, I’ve learned the company is already in discussions with investors about raising more, at a higher valuation, as U.S. firms plead for a spot aboard what they claim is an Indian rocket ship. 

Zepto is in talks with several firms to raise $400 million more at a $4.6 billion valuation before the investment, up substantially from the $3 billion pre-money valuation it earned in the recent round, according to two investors in the company. 

DST Global and Avra, a new fund led by former Y Combinator partner Anu Hariharan, co-led the last round. Nexus Venture Partners, StepStone Group, Contrary and Glade Brook Capital are also investors.