Zepto Raises $665 Million at $3.6 Billion Valuation

Zepto is a delivery startup that has become the preferred option for thousands of residents looking for a convenient and efficient way to shop for their daily necessities. With its user-friendly mobile app and website, customers can effortlessly browse through a vast selection of groceries from the comfort of their own homes or on the go. In addition to its core services, Zepto also offers a subscription-based membership program that provides customers with exclusive perks and benefits, such as free and fast deliveries and discounts on products.

Zepto has raised $665 million in a new funding round, more than doubling its valuation to $3.6 billion from $1.4 billion in less than a year. Glade Brook, Nexus, and StepStone Group co-led the Series F round. Avenir, Lightspeed, and Avra as well as existing backers Goodwater, Lachy Groom, and Contrary also invested in the new round.

Zepto, Parel, Maharashtra, India, was founded in 2020 by Aadit Palicha and Kaivalya Vohra. “In India, there is a culture of buying hyper-locally. This doesn’t really exist in other parts of the world. Customers in India buy small-ticket items multiple times a week hyper-locally, and quick commerce gives them hyper-local, high-proximity and low-ticket use cases,” said Zepto’s co-founder and chief executive Aadit Palicha. “No other format in grocery, even in the offline world, has been able to make similar offerings to consumers.”