Zepto Sheds Kiranakart Identity To 'Clearly Reflect' Business

The IPO-bound online grocer, which recently shifted its base from Singapore to India, has been on a fundraising spree. The company has raised $1.35 billion in a span of five months.

It raised $665 million in June 2024 from Glade Brook Capital, StepStone Group, Nexus Venture Partners and others and then went on to close a $340 million round in August 2024 from General Catalyst and others. It then followed this up with $350 million fundraising from Motilal Oswal, Ranjan Pai's Claypond Capital and other Indian investors.

Zepto also recently appointed Bharti Enterprises Vice Chairperson Akhil Gupta as an independent director to its board.

Bloomberg had reported in March that Zepto was in talks for current stockholders to sell as much as $250 million of their equity, a move aimed at boosting the ownership of Indian investors before the startup seeks to go public later this year. 

"Zepto is getting close to $4 billion in annualized gross order value, which represents 300% year-on-year growth," Palicha wrote in a LinkedIn post last week. "More importantly, we have reduced Ebitda and operating cash flow burn by 50% even as we grew meaningfully during the last three months."