zepto an instant grocery delivery startup founded by two teenagers has raised 100 million in a funding round led by y combinator taking its valuation to 570 million within five months of starting services in indias redhot quick commerce segmentthe startups newest funding comes 45 days after a previous capital raise of 60 million at 225 million valuation aadit palicha cofounder and chief executive officer said in an interview besides y combinators continuity fund the latest round also received investments from new and existing backers like glade brook capital partners nexus venture partners breyer capital and silicon valley investor lachy groom the startup said in a statement zepto named after a minuscule unit of time was started by palicha and his childhood friend kaivalya vohra both 19 who quit the coveted computer science program at stanford university to return to india and get started in quick commerce the startup which promises to deliver grocery and daily essentials in 10 minutes started in mumbai earlier this year and has since expanded to bangalore delhi and four other cities online grocery delivery is taking off in india a 1 trillion retail market where grocery purchases account for the bulk of the retail spending zepto is competing against startups like softbank group corpbacked blinkit googlebacked dunzo and naspers ltdbacked swiggy as well as the likes of amazoncom inc and walmart incbacked flipkartzepto is growing quickly and its core unit economics are strong palicha said in the statement delivering within 10 minutes is game changing said cofounder vohra the chief technology officer the new capital will allow the mumbaibased startup to grow its team and expand to more cities the firm has 100 socalled dark stores or microwarehouses within highdemand neighborhoods and uses technology to perform tasks such as deciding store locations placement of products and mapping out delivery routes to avoid traffic congestion it now delivers over 2500 items including fresh produce cooking essentials snacks and beverages personal care items and home cleaning productsthe founders bring doordashlike execution to the quick commerce model said anu hariharan a partner at y combinators continuity fund the startup is adding 100000 new customers every week she said in the statement