Mumbai-based quick commerce startup Zepto has raised $350 million in a funding round led by Motilal Oswal Private Wealth. The round also attracted investments from well-known family offices, including those of Raamdeo Agarwal, the Taparia Family, Mankind Pharma, RP Sanjiv Goenka Group, Cello, and Haldiram Snacks. Celebrity investors Sachin Tendulkar and Abhishek Bachchan also joined the funding round, making it one of India’s largest domestic fundraisers in 2024.
Investor Confidence and Rapid Growth
This latest investment comes just three months after Zepto raised $340 million at a $5 billion valuation. Over the past six months, the company has secured a total of $1.35 billion, with a significant $665 million round in June. This consistent funding reflects strong investor trust in Zepto’s growth and business model.
Zepto operates over 550 dark stores in 17 cities across India, offering quick delivery of more than 25,000 products in under 10 minutes. The company handles over 700,000 orders daily and boasts an annual gross merchandise value (GMV) of more than $1 billion. Impressively, nearly 75% of its dark stores are EBITDA-positive, putting Zepto on track to achieve profitability.
Zepto’s Vision for the Future
Zepto’s co-founder and CEO, Aadit Palicha, expressed gratitude for the overwhelming support from domestic investors. He highlighted how the company has grown from its early days when trusting young entrepreneurs was rare. “Today, we’ve not only earned that trust but also set a benchmark with this significant fundraise,” said Palicha.
Zepto is preparing for an initial public offering (IPO) by late 2025 or early 2026. To facilitate this, the company is relocating its domicile from Singapore to India. This move aligns with its vision to go public domestically and strengthen its Indian operations.
Zepto’s rapid financial growth, strong investor backing, and expansion in quick commerce highlight its leadership in the sector. With plans for profitability and an IPO, Zepto is setting a high bar for Indian startups.
