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<keyword id="19939134" type="General" weightage="100" keywordseo="Zepto" source="keywords" meta.keywordsubtype="org" meta.entityname="Zepto" meta.hostid="261" meta.entityid="Zepto">Zepto</keyword>, a popular quick-commerce platform which rivals Blinkit and Swiggy Instamart, has secured <keyword id="22972597" type="General" weightage="20" keywordseo="USD-340-million" source="keywords">USD 340 million</keyword> in a follow-on financing round led by <keyword id="20231170" type="General" weightage="20" keywordseo="General-Catalyst" source="keywords" meta.keywordsubtype="org" meta.entityname="General Catalyst" meta.hostid="261" meta.entityid="General Catalyst">General Catalyst</keyword>, pushing the Mumbai-based startup's <keyword id="19896943" type="General" weightage="20" keywordseo="valuation" source="keywords">valuation</keyword> to $5 billion. This fresh infusion of capital comes shortly after Zepto raised $665 million in June 2024, which had then valued the company at $3.6 billion—almost triple its worth from the previous year. The latest round was spearheaded by General Catalyst, with new investors Dragon Fund and Epiq Capital also joining the fray. Existing backers, including <keyword id="22972598" type="General" weightage="20" keywordseo="StepStone" source="keywords" meta.keywordsubtype="org" meta.entityname="StepStone" meta.hostid="261" meta.entityid="StepStone">StepStone</keyword>, Lightspeed, DST, and Contrary, have further increased their investments in Zepto. <keyword id="20291499" type="General" weightage="20" keywordseo="Aadit-Palicha" source="keywords">Aadit Palicha</keyword>, Co-founder and CEO of Zepto, explained that the decision to pursue this follow-on financing was driven by two key factors. "First, we couldn’t miss the opportunity to bring <keyword id="21957857" type="General" weightage="20" keywordseo="Neeraj-Arora" source="keywords">Neeraj Arora</keyword> from General Catalyst on board as our lead investor. Second, strengthening our balance sheet is a strategic move as we continue to show strong growth and operational efficiency," Palicha said according to PTI. Zepto is rapidly expanding its network of dark stores, which currently stands at 370, according to a report in The Hindu. The company plans to increase this to approximately 700 stores by March 2025, thereby strengthening its presence across the top 20 cities in India. In June, Zepto reported crossing the $1 billion mark in annualized Gross Merchandise Value (GMV). Founded in 2021 by Stanford University dropouts Aadit Palicha and Kaivalya Vohra, Zepto has rapidly grown into a leading player in the quick commerce sector, drawing significant attention from investors and industry watchers alike.

Zepto secures USD 340 million in latest funding round, boosting valuation to USD 5 billion

Quick commerce company <keyword id="19939134" type="General" weightage="100" keywordseo="Zepto" source="keywords">Zepto</keyword> on Friday said it has raised <keyword id="22130274" type="General" weightage="20" keywordseo="USD-665-million" source="keywords">USD 665 million</keyword> (about Rs 5,560 crore) in the latest funding round that valued the firm at USD 3.6 billion, almost triple than its worth a year back. The massive fundraise comes less than a year after the Mumbai-based startup raised USD 235 million at a valuation of USD 1.4 billion. The funding round saw participation from new investors like Avenir, Lightspeed, and Avra, alongside existing investors Glade Brook, Nexus, and StepStone, Goodwater, and Lachy Groom. "We've gone from 0 to 1 billion-plus in sales, or GMV, in 29 months, that is faster than any other internet company before us... Even on a base of over a billion dollars at this point, we are growing 100 per cent-plus year on year. And that for us is one of the big drivers of this fundraise," Zepto co-founder and CEO Aadit Palicha told PTI. Attributing the growth to the performance of the quick commerce firm, the young entrepreneur said, "This is largely because of the input excellence we've built across the supply chain. "Whether it is sourcing excellence, mother hub efficiency, line haul utilisation, or our last mile, the innovation that we've done, or forecasting, we're in this place where even as we've been able to grow, we've been able to drive efficiency to get the business to pretty much close to full operating cash flow positive today." He said the overall business is close to operating at break-even cash flow. Nearly 75 per cent of the company's stores are fully EBITDA positive as of May 2024, he said. "Over the next 12-18 months, although it might fluctuate, but we'll still be pretty close to operating cash flow positive, and the idea is to keep in that direction, get the business to a place where we can list next 9-12 months," he said. Zepto co-founder and CTO <keyword id="12442402" type="General" weightage="20" keywordseo="Kaivalya-Vohra" source="Orion">Kaivalya Vohra</keyword> said the firm plans to hire top talent across engineering, product, growth, finance, operations, and category management. "If you are looking for a high growth, high meritocracy and high intensity culture where you can convert hard work and ambition into disproportionate career growth, Zepto is the place for you," he said.

Zepto raises USD 665 million; Valuation nearly triples to USD 3.6 billion

In 2024, grocery shopping is a thing of the past in India. Delivery platforms like <keyword id="19939135" type="General" weightage="20" keywordseo="Swiggy-Instamart" source="keywords">Swiggy Instamart</keyword>, <keyword id="20069203" type="General" weightage="20" keywordseo="Blinkit" source="keywords" meta.keywordsubtype="org" meta.entityname="Blinkit" meta.hostid="261" meta.entityid="Blinkit">Blinkit</keyword> and <keyword id="19939134" type="General" weightage="20" keywordseo="Zepto" source="keywords" meta.keywordsubtype="org" meta.entityname="Zepto" meta.hostid="261" meta.entityid="Zepto">Zepto</keyword> have made life easier for millions of people by delivering regular household items at their doorsteps. Ran out of salt? Order it online. Ran out of flour? Order it online. Need some stationery items for your kid’s school project? It can be delivered too. The list is endless. <h2><keyword id="21384253" type="General" weightage="100" keywordseo="Zepto-CEO" source="keywords">Zepto CEO</keyword> compares it with Zomato</h2> Zepto, which is newer when compared to Swiggy and Blinkit, is a popular choice in many areas. And its CEO and co-founder <keyword id="22736526" type="General" weightage="20" keywordseo="Aadit-Palica" source="keywords">Aadit Palica</keyword> feels that the company is in the stage where <keyword id="19904608" type="General" weightage="20" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> was in 1990s or early 2000s. While speaking at the Moneycontrol Startup Conclave 2024 on Friday, Palicha drew a bold comparison between his company’s current trajectory and that of Amazon during the late 1990s and early 2000s. He added that with the right execution, Zepto could potentially achieve a valuation between $50 billion and $80 billion, positioning itself as a leader in the global quick commerce sector. With that being said, Palicha is keenly aware that success isn’t guaranteed. “It is largely just execution,” he noted, talking about the importance of flawless operational strategy in turning potential into reality. He also acknowledged the history of companies that had the right ingredients for success but failed to execute, highlighting Zepto’s commitment to staying focused on its core business for the foreseeable future. Over the past year, Zepto has been on an aggressive fundraising streak, securing significant investments that have fuelled its growth. In August 2023, Zepto raised $231 million at a valuation of $1.4 billion, marking its entry into the unicorn club. But that was just the beginning. The startup recently closed another funding round, pulling in $665 million and boosting its valuation to $3.6 billion. The momentum doesn’t stop there. Zepto has attracted further interest from investors, with discussions underway for an additional $250 million in funding. This new round, which could grow to as much as $400 million, is expected to push the company’s valuation to around $4.6 billion. <h2>When Palicha said Zepto will be bigger than D-Mart </h2> This isn’t the first time that Palicha has made a bold prediction about Zepto. Last month, Palicha had said that Zepto would be bigger than D-Mart in the near future. Speaking at the JIIF Foundation Day event in Delhi, Palicha had pointed out that despite D-Mart’s impressive $30 billion valuation, the retail behemoth is currently only 4.5 times larger than Zepto in terms of sales. "D-Mart is a $30 billion company, and they are only 4.5 times our size in sales. If we maintain our current pace, growing 2-3 times each year, we could potentially surpass them in the next 18-24 months," Palicha had said.

Zepto CEO compares his startup to Amazon, says it can be worth 80 billion if things go right

<ul><li><keyword id="12437554" type="General" weightage="100" keywordseo="zepto" source="Orion">Zepto</keyword> elevates <keyword id="184778" type="General" weightage="80" keywordseo="ankit-agarwal" source="Orion">Ankit Agarwal</keyword> as CPO to improve customer experience and drive innovation across categories.</li><li>Zepto’s new CPO has also been a founder in the past, with Orinko, trying to build India’s first ever fruits and vegetables consumer brand.</li><li>Zepto turned the first unicorn of 2023 with a valuation of $1.4 bn last month and is working towards a public listing over the next 12-18 months. </li></ul> Quick commerce player Zepto on Monday announced the elevation of Ankit Agarwal as the company’s Chief Product Officer. A major part of Zepto’s journey ahead will be driven by innovation in product and technology. Ankit Agarwal, CPO, Zepto, explains, “We're not following trends; we're setting them. I'm excited to be part of that team that is revolutionising commerce in India.” Kaivalya Vohra, Co-founder and CTO, Zepto, said, “Ankit joined us about a year ago and in that time he has built strong rigour within the fulfilment charter. We've been able to ship world class technology over the last year; everything from building our entire last mile stack in-house to building and rolling out a warehouse management system in &lt;6 months, and many other needle-moving initiatives.” With 13+ years of product experience in companies such as Flipkart, Delhivery and Infra.Market, Ankit joined Zepto in August 2022 as SVP of Product to lead the entire fulfilment charter, spanning the entirety of supply chain, last mile and finance tech. Ankit has also been a founder in the past, with Orinko, trying to build India’s first ever fruits and vegetables consumer brand. With Ankit’s elevation, he will now own product end-to-end, from consumer to supply chain and last mile. The quick commerce player has its job cut out after it became a unicorn last month. Zepto is India’s 84th unicorn with its latest fundraise. India had 83 unicorns at the start of the year but several startups have lost that tag with down rounds and cuts in valuation. The quick commerce player, started by two teenagers two years ago, has raised $200 million through a Series E round at a valuation of $1.4 billion. The latest round is entirely primary. The agenda is to build a good capital base ahead of a potential listing in 2025. With this round, the startup has brought on board a bunch of new investors. This round was led by StepStone Group and this investment into Zepto is their first direct investment in an Indian company). Additionally, Goodwater Capital, a consumer-focused venture capital firm based in California, joined the round as a new investor. Notably, existing investors, like Nexus Venture Partners, Glade Brook Capital, Lachy Groom and more, doubled down on their investments in Zepto with meaningful follow-on investments.

You Searched For "zepto valuation" and got 5 results

Zepto secures USD 340 million in latest funding round, boosting valuation to USD 5 billion

BI India Bureau

Zepto raises USD 665 million; Valuation nearly triples to USD 3.6 billion

PTI

Zepto CEO compares his startup to Amazon, says it can be worth 80 billion if things go right

Divyanshi Sharma

Zepto appoints Ankit Agarwal as chief product officer to drive innovation in fulfilment

BI India Bureau

Almost one in five of India’s future unicorns drop off the race as funding winter bites

Katya Naidu

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