Zepto To Raise Another $340 Million At $5 Billion Valuation

Quick commerce major Zepto is set to close another $340 million in fresh investment at an upgraded valuation, taking the capital it has raised in the past two months to over $1 billion, according to people familiar with the matter.

The company has secured interest from Mars Growth and General Catalyst to invest at a valuation of $5 billion, marking a 40% hike from its $3.6 billion valuation just two months ago.

In June, the Aadit Palicha-led company closed a massive $665 million, or about Rs 5,560-crore round, as the Mumbai-based startup aimed to double its dark store count ahead of a potential initial public offering. With the fresh funds, Zepto has raised over $1 billion in just two months.

Speaking to NDTV Profit in June, Palicha had said Zepto will mostly enter 10 new cities this year, with Ahmedabad, Jaipur and Chandigarh on the horizon. The company is also going to continue doubling down in its existing markets, where it has already proven high degrees of profitability, continuing to grow the business to over Rs 10,000 crore in sales.

"We plan to continue operating with fiscal discipline as we scale from 350 stores to 700 stores by reinvesting the capital generated from mature stores back into the business," Palicha had said.