Asian startups raised over $1.2 billion, including Zepto, Absolute Foods, and Open

Oluwajuwonlo Afolabi -

Here are the technology news, startup, and VC deals we tracked across the Asian region this week.

  • Zepto, an India-based quick commerce startup raised $200 million in a Series D funding round putting it at a $900 million valuation and $100 million away from being a unicorn.  The startup backed by Y-Combinator has promised to break the traditional delivery status by offering 10-minute paced grocery deliveries.
  • Agri-tech company, Absolute Foods raised $100 million in a new funding round led by Sequoia Capital India, Wave Global, and Tiger Global bringing it to a total valuation of $500 million. The company will use the fund to expand its operations in universal Farm OS, global trade, and bioscience research platforms.
  • Indian neobank Open raised $50 million to become a unicorn with a $1 billion valuation. The funding round was led by IIFL Finance with participation from Temasek, Tiger Global, and 3one4 Capital; targeted at building a lending business. The new funding round comes after the company had raised $100 million last year in an investment round led by Temasek, a Singapore sovereign wealth fund.