Zepto, a fast-growing e-commerce company based in Mumbai, is now in discussions to secure an additional $400 million in funding.
Zepto utilizes a network of “dark stores,” which are compact warehouses strategically positioned in locations with strong demand. This enables the recently established company to guarantee prompt delivery timeframes.
Zepto works in the very competitive rapid commerce industry, providing food, household items, and technology accessories to urban Indian consumers in a matter of minutes.
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Presently, the company boasts a delivery partner base of 50,000, with an additional 5,000 partners being onboarded every month. Furthermore, the company aims to augment its dark store network to encompass 700 locations by March 2025.
Currently, Zepto operates over 350 dark stores in 10 cities, namely Bengaluru, Chennai, Delhi, Ghaziabad, Gurgaon, Hyderabad, Kolkata, Mumbai, Noida, and Pune.
Zepto anticipates achieving a yearly gross merchandise value (GMV) of $1.5 billion by the upcoming month and is now earning an annual gross profit of $300 million. The current valuation is based on a higher annualized Gross Merchandise Value (GMV) of more than $1.1 billion, compared to the GMV disclosed in March.
About Zepto
Founded in 2021 by Aadit Palicha, Kaivalya Vohra, Zepto is India’s fastest-growing e-grocery company valued at $1.4 Billion following its recent Series-E fundraising of $200 Million.
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