Zepto raised ₹5,553 crore funds: Its valuation reached ₹30,064 crore, the company may soon bring IPO

Zepto raised ₹5,553 crore funds: Its valuation reached ₹30,064 crore, the company may soon bring IPO

Instant grocery delivery app Zepto has raised $665 million or Rs 5,553 crore at a valuation of $3.6 billion (Rs 30,064 crore). Zepto had earlier raised $235 million (Rs 1,962 crore) in August 2023, when the company got unicorn status with a valuation of $1.4 billion (Rs 11,691 crore). Zepto has raised this fund at a time when investors have become very cautious in investing in startups. In this entire primary round, Zepto has raised this fund led by existing investors like Glade Brook, Nexus, Stepstone, Goodwater and Lachie Groom. The majority investment is from these investors and the rest of the money has been invested by new investors like Avenir Growth, Lightspeed, Avera and others. DST Global made the highest investment of Rs 10 crore According to reports, among the new investors, DST Global has invested the highest amount, which is an early investor in Zepto’s competitor Swiggy. DST Global has invested Rs 10 crore. Zepto’s CEO Adit Palicha said that the company has succeeded in increasing its gross merchandise value (GMV) in about two and a half years with sales of $1 billion. This has been the fastest growth for any internet company worldwide. Hopefully, we will soon be ready to bring an IPO. Zepto is growing at a rate of 100% annually According to Palicha’s claim, Zepto is growing at a rate of more than 100% annually. Apart from this, 75% of the company’s market is completely EBITDA positive. Palicha says that if there was no such growth, it would have been very difficult to raise funds. Mumbai-based startup Zepto will use the money raised in this funding round to enter new markets including Jaipur, Chandigarh and Ahmedabad. Apart from this, this money will be used to expand the market in cities including Mumbai, Delhi and Bangalore, where the company is already present. The number of stores will cross 700 by March 2025 The company’s target is to increase the number of its dark stores from the current 350 to over 700 by March 2025. Zepto, one of India’s fastest growing consumer internet companies, was founded in 2021 by Adit Palicha and Kaivalya Vohra.

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