Zepto appears to be in non-stop fundraising mode as a new report suggests that 10-Minute Grocery Delivery, Unicorn is in talks to raise an additional $310 million at a much higher valuation.
According to a And postponementled by Aadit Palicha start-up The company is seeking a valuation of $5 billion with this round of funding, which could include investors including Mars Growth Capital (co-managed by Mitsubishi UFJ Financial Group Inc and Israel’s Liquidity Group), along with US-based General Catalyst and other existing investors.
In late June, the US-based publication The information reported that Zepto is in talks to raise around $400 million at a post-money valuation of $5 billion.
The funding round could reach $350 million
The report also noted that the funding round could reach $350 million, with participation from existing investors and HNIs.
However, under the terms of the previous funding round, Zepto cannot raise more than $350 million in 90 days, even at a higher valuation, to protect existing investors from stake dilution.
If this new round of funding goes through, Zepto’s record fundraising would reach around $1.5 billion.
Previous funding of Zepto
The report comes almost two months later Zepto raised $665 million from a group of investors, doubling its valuation to $3.6 billion from $1.4 billion in August 2023.
The last round It was co-led by Glade Brook, Nexus and StepStone Group. Other major investors included Avenir, Lightspeed, Avra (a new fund from Anu Hariharan), Goodwater, Lachy Groom and Contrary.
DST Global, an early backer of Swiggy, another major player in the fast commerce space, also participated in the round.
A highly competitive market
Founded in 2021 by Stanford dropouts Kaivalya Vohra and Aadit Palicha, Zepto operates in the highly competitive express commerce market, delivering groceries, household goods and electronic accessories to urban Indian consumers within minutes.
The startup uses a network of “dark stores,” small warehouses located near high-demand areas, allowing it to guarantee fast delivery times.
It currently has more than 50,000 delivery partners, adding around 5,000 new partners every month, and plans to expand its dark store network to 700 by March 2025.
Currently, Zepto has around 350 dark stores across 10 cities including Bengaluru, Chennai, Delhi, Ghaziabad, Gugaon, Hyderabad, Kolkata, Mumbai, Noida and Pune.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.