Zepto seeks additional $250 million funding at $4.6 billion valuation
Zepto is reportedly discussing an additional funding round that could potentially bring in $250 million, with a possibility of increasing to $400 million. According to Moneycontrol, this would value the company at approximately $4.6 billion. The funding round is expected to include new investor General Catalyst and other participants such as Private Equity and sovereign funds like Abu Dhabi Investment Authority (ADIA), KKR, and Singapore's GIC.
General Catalyst plans major investment in India
General Catalyst, a venture capital firm, reportedly plans to invest between $500 million and $1 billion in India this year. The firm already backs several Indian companies including CRED, Uni, Spinny, Orange Health, FarMart, and Loop Health. Last month, Zepto raised $665 million at a valuation of $3.6 billion from investors such as Glade Brook Capital, StepStone Group and Nexus Venture Partners.
Zepto announces expansion plans following recent fundraise
Following its recent fundraise, Zepto announced plans to double its dark store count to 700 by March 2025. Aadit Palicha, co-founder and chief executive of Zepto, stated, "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."
Zepto's potential fundraise could set quick commerce record
A source informed Moneycontrol that more funding was expected for Zepto even before its previous round had closed. If the current funding discussions are successful, General Catalyst and other investors will join the company's cap table as part of the new round. This could potentially make Zepto one of the few quick commerce platforms to have raised over $1 billion in a short span.
