3 in Finance

6/21: Zepto (India), an online grocery delivery platform, raised $665M in Series F funding in a deal led by Glade Brook Capital, Nexus Venture Partners, and StepStone Group, putting the company’s pre-money valuation at $2.9B. The company plans to double its number of warehouses by 2025. (Link)

6/20: Daydream (San Francisco, CA), developer of an AI-powered search engine built for e-commerce, raised a $50M seed round in a deal led by Forerunner Ventures and Index Ventures. (Link)

6/17: SHEIN (Singapore), the world’s largest fashion retailer, filed to list an IPO with the London Stock Exchange, six months after filing paperwork with the U.S. SEC, as a result of political and regulatory pressure. The company’s pre-money valuation as of 2023 was $64B. (Link)

3 for Fun

Bevstack and Bottlecapps partner to revolutionize DTC e-commerce for BevAlc brands. (Link)

Orthotics Direct, seeking to disrupt foot care industry, launches online platform. (Link)

Target partners with Shopify; Trend of retailers turning to third-party marketplaces continues. (Link)

Big movers — month over month stock performance

Carvana gains 29%; Chewy gains 28%; Vivid Seats gains 14%

Rent the Runway falls 27%; The RealReal falls 26%; Vipshop falls 19%