Quick commerce platform Zepto has successfully raised $350 million in its 3rd funding round of 2024. This latest investment round was led by Motilal Oswal Private Wealth, with participation from several prominent investors and family offices, reinforcing Zepto’s growth trajectory in the competitive Indian market.
The funding round attracted significant contributions from a wide range of investors, including Motilal Oswal AMC, Raamdeo Agarwal, The Taparia Family Office, Mankind Pharma Family Office, RP Sanjiv Goenka Group, Cello Family Office, Haldiram Snacks Family Office, Sekhsaria Family Office, Kalyan Family Office, Happy Forgings Family Office and Mothers Recipe Family Office (Desai Brothers)
Additionally, celebrity investors such as Sachin Tendulkar and Abhishek Bachchan also participated in the round.
Zepto’s valuation remains steady at $5 billion, maintaining its strong position in the Indian quick-commerce sector. The $350 million round adds to the company’s impressive fundraising momentum in 2024, bringing the total amount raised by Zepto this year to over $1 billion.
Zepto’s CEO and Co-founder, Aadit Palicha, shared his thoughts on the achievement, expressing gratitude for the trust the company has garnered from investors and customers alike. He stated, “We are humbled to have reached a place in India’s economic growth where we’ve not only fostered that trust but also spearheaded a fundraise of this magnitude, which will hopefully set a precedent for the startups that follow.”
This new round comes just months after a $340 million fundraising effort in August 2024, which was led by General Catalyst and Dragon Fund. New investor Epiq Capital also participated, alongside existing investors like StepStone, Lightspeed, DST Global, and Contrary, who increased their stakes.
Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has quickly become a leader in the quick-commerce space in India. The platform, known for its promise of 10-minute delivery, offers over 25,000 products, ranging from groceries to electronics.
Zepto operates through a network of dark stores and delivery hubs across 17 cities in India, with over 550 dark stores and the ability to process more than 700,000 daily orders.
The company supports an expansive workforce, including 56,000 delivery partners, 30,000 staff, and has empowered 20,000 farmers. Zepto’s rapid expansion continues, driven by a dedicated team of over 5,000 employees working to scale the platform further.
As Zepto moves toward an IPO, the company is poised to continue capitalizing on the growing demand for ultra-fast delivery in urban India. With its strong investor backing and significant market presence, Zepto is on track to solidify its position as a major player in the Indian e-commerce sector.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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