Quick commerce platform Zeptro has raised $350 million in its latest funding round led by Motilal Oswal Private Wealth, with participation from high-profile investors including Raamdeo Agarwal, the Taparia Family Office, Mankind Pharma Family Office, Haldiram Snacks Family Office, and others. Notably, celebrity investors such as Sachin Tendulkar and Abhishek Bachchan also contributed to this round.
This funding round brings its total funding to $1.35 billion in 2024 and $1.85 billion since its inception. The latest round values the company at $5 billion, the same as the previous round.
“When we started this venture, the risk appetite among domestic investors was limited—especially to trust 18-year-olds with their money. Today, we are humbled to have reached a place in India’s economic growth where we’ve not only fostered that trust but also spearheaded a fundraising of this magnitude, which will hopefully set a precedent for the startups that follow,” Aadit Palicha, co-founder and CEO of Zepto, said.
Zepto is a popular quick commerce platform that delivers over 25,000 products across categories within 10 minutes through its more than 550 dark stores across different cities. It boasts to handle over 700,000 daily orders.
Zepto is the second-largest player in the Indian quick commerce space with a 29% market share. The company also reported a 140% year-on-year increase in revenues. It has already surpassed $1 billion (₹8,300 crore) annualized Gross Merchandise Value (GMV). Back in May 2024, the company claimed that 75% of its dark stores have achieved EBITDA positivity.
The company is also planning for an IPO by the end of 2025 or early 2026. To streamline the process, it is also shifting its domicile from Singapore to India.
