&imwidth=800&imheight=600&format=webp&quality=medium "Zepto raises $450 million, valuation of Aadit Palicha-led platform rises to...")
Zepto, one of India's leading quick commerce platforms, has raised $450-million in a funding round led by California Public Employees’ Retirement System (CalPERS). The funding round has raised the valuation of the company to $7 billion from $5 billion, at which it raised money last year.
Avenir, Avra, Lightspeed, Glade Brook, the Stepstone Group, and Nexus Venture Partners joined this funding round. The cofounder and CEO of Zepto, Aadit Palicha, said in a statement that the companyhas $900 million in the bank and is well-capitalised for future needs.
All you need to know about Zepto
ET reported in April last year that Palicha and Kaivalya Vohra were in advanced talks with investors for credit funds of over $175 million.
Zepto, which delivers groceries and electronics within minutes through app orders, had received funding of Rs 400 crore from Motilal Oswal Financial Services last year. It was part of a Rs 1000 crore round that valued Zepto at around $5.4 billion.
Zepto is currently attempting to stop its cash burn. The company clocked Rs 11,109 crore in revenues in FY25, which is way higher than Rs 4,454 crore in the previous year.
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It competes with Swiggy’s Instamart, Eternal-owned Blinkit, and Tata-owned BigBasket.
Amazon and Flipkart have launched their quick commerce platforms, intensifying competition in the novel segment. Zepto has also launched its medicine delivery verticalin Delhi-NCR, Mumbai, Bengaluru, and Hyderabad.