Zepto, a company that specialises in quick commerce, has secured $665 million in its Series F round from a variety of new investors, including Avenir, Lightspeed, and Avra (Anu Hariharan’s new fund).
Goodwater and Lachy Groom increased their investments, while Glade Brook, Nexus, and StepStone, who were already investors, co-led the round.
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Zepto will be able to contend with BlinkIt and Swiggy Instamart, two other deep-pocketed players, by leveraging the substantial funding. In contrast to the West, rapid commerce operators in India assert that they have identified a sustainable model.
The company has been valued at $3.6 billion (post-money) in the most recent round, which represents an increase from $1.4 billion in the previous round, according to the company. To date, the organization has raised more than $1.2 billion.
Zepto asserts that it has attained an annualized gross merchandise value of over $1 billion, with 140% year-on-year growth, and is nearly EBITDA positive. As of May 2024, Zepto reports that approximately 75% of its stores are entirely EBITDA positive.
Adit Palicha, co-founder and CEO, Zepto, said: “We plan to continue operating with fiscal discipline as we scale from 350 stores to 700 stores by reinvesting the capital generated from mature stores back into the business. If we are able to achieve this while continuing to delight customers, I believe we will be ready to go public relatively soon,”
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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