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Competition from Next-Generation Products (Vaping, E-cigarettes) 3.3

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Part of this is that the Lost Mary is more conservative with their estimations

Second, strengthening our balance sheet is a strategic move, particularly as the company continues to deliver robust growth and operating leverage. While these recent financings reflect strong confidence in Zeptos performance to date, we recognise there is still a lot of execution ahead of us to fulfil our ambition of building a world class internet company out of India