Zepto Fundraise: Quick commerce firm likely to raise up to $500 million at a $7 billion valuation — Report
As per the news report, the talks over the fresh funding are currently at an advanced stage, and the company is looking to raise this round at a 40% higher valuation than its 2024 levels.
Zepto is competing against other quick commerce majors like Swiggy and Zomato's parent company, Eternal, in the Indian market. The company is also reportedly planning for its initial public offering (IPO).
According to the report, existing investors like General Catalyst and Avenir Growth are leading the fresh fund round, while others are participating on a pro rata basis.
According to Mint's earlier report on 22 November 2024, the quick commerce company Zepto raised $350 million at a valuation of $5 billion in a funding round led by Motilal Oswal's private wealth division.
This November fund round was Zepto's third capital round in 2024, as the company raised money from high net worth individuals (HNIs), family offices, and Indian financial institutions.
Mankind Pharma Family Office, RP Sanjiv Goenka Group, Cello Family Office, Haldiram Snacks Family Office, and actor Abhishek Bachchan and cricket icon Sachin Tendulkar were the top investors in the funding round.
Three months before the November funding round, the company raised $340 million from a US-based venture capital firm, which fueled the company's valuation to $5 billion. Dragon Fund and Epiq Capital were the fresh investors in this round, while StepStone, Lightspeed, DST and Contrary increased their holdings in the company, according to the report.
In June 2024, Zepto raised $665 million in a pre-IPO round at a valuation of $3.6 billion.
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