Zepto Becomes India's First 2023 Unicorn; Mole Secures Pre-Seed Funding
Mole, a Malaysian professional networking platform, has secured USD 110,000 in pre-seed funding from Antler. Meanwhile, Zepto, an Indian quick commerce company, has raised USD 200 million, becoming the first unicorn in 2023.
Zepto's funding round was led by US-based StepStone Group and Goodwater Capital, valuing the company at USD 1.4 billion. The capital will bolster Zepto's presence in seven Indian cities.
In other funding news, GradRight, an Indian edtech startup, has raised INR 500 million (USD 6.1 million) in a Series A round led by Chiratae Ventures. The company aims to strengthen its offerings in the competitive education technology sector.
Across the globe, Mole, a Malaysia-based networking platform, received USD 110,000 in pre-seed funding from Antler. This investment will support Mole's growth and expansion in the professional networking sphere.
In China, several companies have also secured significant funding. Zhejiang Tianneng New Materials, a battery recycling company, raised RMB 1 billion (USD 137.2 million) in a Series A round. HC Scientific, a biotechnology company, raised over RMB 300 million (USD 41.1 million) in a Series B+ round. Formal Tech Information Technology, an industrial technology company, raised over RMB 100 million (USD 13.7 million) in a Series A round. Mateside, a home rehabilitation medical equipment company, secured nearly RMB 100 million (USD 13.7 million) in its first round of financing.
These funding rounds reflect the vibrant startup ecosystem in Asia, with companies in various sectors securing substantial investments to drive growth and innovation. Zepto's unicorn status is a notable achievement, demonstrating the potential of Indian startups in the global market.
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