PE Fund Investments
Quick commerce co. Zepto raises $340-M led by General Catalyst at $5-B valuation
Mumbai-based quick commerce company Zepto has raised USD 340 million in a follow-on financing round led by General Catalyst, with Dragon Fund and Epiq Capital also joining as new investors. Existing investors, including StepStone, Lightspeed, DST, and Contrary, also increased their stakes.With this new funding, Zepto’s valuation has surged by nearly 40%, rising to USD 5 Billion from USD 3.6 billion in June, when it raised USD 665 million in its Series F round. The firm has raised over USD 1 Billion in 2024, USD 1.2 Billion in the past 12 months, and more than USD 1.5 Billion since its inception.Zepto plans to double its dark stores to 700 by March 2025 and expand into new markets such as Nasik, Chandigarh, Vizag, and Ahmedabad. The company will also increase its presence in existing metro cities.Zepto claims to deliver over 10,000 products across categories within 10 minutes through a network of delivery hubs nationwide. The firm has posted an annualised gross merchandise value of over USD 1 Billion (INR 8,300 crore). It also reports that about 75% of its stores are fully EBITDA positive as of May 2024.
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