Fast Trading Unicorn Zeptowhich managed to raise more than a billion dollars in the last two months, now has its sights set on a IPO—an ambition shared by many of the new age entrepreneurs.
According to several media reports, Zepto has started talks with Wall Street bankers Morgan Stanley and Goldman Sachs, as well as Axis Capital, to explore the potential IPO, which is expected to take place in the second half of next year, around August 2025.
Move to India and IPO size
A report by ET noticed that the IPO plan depends on Zepto moving its headquarters from Singapore to India, a process the startup is already underway.
The report further stated that Zepto is looking to raise approximately $450 million through a new share issue and will also include a tender offer to existing investors, something the company has yet to decide on.
Zepto Funding and Investors
Zepto has been on an aggressive fundraising spree over the past year. The startup first raised $200 million by the end of August 2023becoming the country’s 111th unicorn. Another followed $31.25 million in funding in November 2023.
In June 2024, Zepto broke previous fundraising records by securing $665 million with a valuation of $3.6 billion. This valuation further increased to $5 billion after the company raised additional funding. $340 million last month.
It is backed by some of the most prominent investors including Lightspeed, StepStone, Mars Growth Capital, General Catalyst and Contrary.
Who are the founders?
Founded in 2021 by Stanford dropouts Kaivalya Vohra and Aadit Palicha, Zepto operates in the highly competitive express commerce market, delivering groceries, household items and electronic accessories to urban Indian consumers within 10 to 15 minutes.
The startup uses a network of “dark stores,” small warehouses located near high-demand areas, allowing it to guarantee fast delivery times.
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