The $200 million Series E fundraise by Zepto, the fastest-growing online grocery retailer in India, valued the business at $1.4 billion, and this round led by StepStone Group.
Goodwater Capital, a California-based venture capital firm with a consumer-focused focus, also invested in the round. Noteworthy follow-on investments in Zepto were made by long-term investors like Nexus Venture Partners, Glade Brook Capital, Lachy Groom, and others.
Aadit Palicha, Co-founder & CEO of Zepto, said, “This business is about execution and we are succeeding because our execution is strong. Our culture of deep frugality and worshipping customers has gotten us here, but there is still so much for us to achieve. We are in this to build a generational company and it truly feels like this is just the beginning.”
Zepto intends to go public by 2025 as a profitable, expanding technology company with happy customers thanks to this exceptional performance and execution. The Zepto team currently intends to focus entirely on execution for the upcoming year to constantly improve the company.
Kaivalya Vohra, Co-founder & CTO of Zepto, shared, “Even with this capital, we want to maintain our discipline, avoid complacency, and push hard to hit EBITDA positivity. In that journey, the biggest drivers of P&L improvement for us are based on technology and product. We are building one of the best supply chain product stacks in the country today and we are investing heavily in customer-facing product as well. This technical excellence is in our DNA, and I’m excited about the next phase of building.”
Founded in 2021 by Stanford University dropouts, Aadit Palicha and 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 from marquee global investors including StepStone Group, Nexus Venture Partners, Glade Brook Capital, Lachy Groom, and others.