Zepto, a leading name in India’s quick commerce sector, has successfully raised $350 million in its latest funding round. The company maintained its $5 billion valuation achieved in August, with prominent investors such as Mankind Pharma Family Office, RP Sanjiv Goenka Group, Haldiram Snacks, Cello, and Motilal Oswal participating in the round. Additionally, notable figures like Raamdeo Agrawal, Amitabh Bachchan, and Sachin Tendulkar were part of this milestone.
This funding round stands out as the largest-ever fully domestic funding round in India’s history. Founded in 2021 and now a unicorn, Zepto has secured its position in the market by raising its third round of funding in just six months. The company is gearing up for its planned IPO next year, strengthening its edge against competitors. Since June, Zepto has raised over $1.35 billion in total funding.
A Strong Contender in Quick Commerce
Delivering thousands of products, from groceries to electronics, in minutes, Zepto has rapidly expanded its footprint across India. It competes with major players such as Blinkit (owned by Zomato), Instamart (operated by Swiggy), and BigBasket (owned by Tata).
According to Morgan Stanley, India’s quick commerce sector is projected to surpass $6 billion in sales by the end of 2023 and grow to a massive $42 billion market by 2030. By then, the sector is expected to account for 18.4% of total e-commerce and 2.5% of overall retail sales.
A Visionary Journey
Zepto’s Co-Founder and CEO Aadit Palicha emphasized the evolution of India’s investment landscape:
“When we started, domestic investors had limited appetite for risk. Today, leading a funding round of this magnitude, which sets a precedent for other startups, is a moment of pride for us.”
Palicha outlined Zepto’s vision:
“From day one, our goal has been to play a small role in nation-building, create hundreds of thousands of jobs, and provide better services to Indian consumers. We are proud of the steps we’ve taken toward that vision.”
Zepto’s Daily Operations
Currently, Zepto operates in over 17 cities across India and processes 7 million daily orders, showcasing its scale and efficiency.
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