Zepto’s $665M Funding Boosts Expansion and Innovation in India’s Quick Commerce Market
October 30, 2004
Zepto, a leading platform in quick commerce, has raised $665 million in a pre-IPO funding round, doubling its valuation to $3.6 billion within just nine months. This major funding was led by new investors, including New York’s Avenir Group, Lightspeed Venture Partners, and Avra Capital, with ongoing support from existing partners like Nexus Venture Partners, Glade Brook, and StepStone Group.
The new capital will enable Zepto to double its dark store network to 700 locations by March 2025, reinforcing its position against competitors like Blinkit, Zomato, and Swiggy. Additionally, Zepto is broadening its Zepto Cafe offerings and enhancing customer loyalty with the Zepto Pass program, which has already garnered over 4.5 million subscribers.
Zepto’s advertising revenue, currently at ₹400 crore, is projected to reach ₹1,000 crore within a year, with a strong 150% year-on-year growth rate. Founded in 2021 by Stanford dropouts Aadit Palicha and Kaivalya Vohra, both 20, Zepto has revolutionized India’s e-commerce industry with its rapid 10-minute delivery service, catering to a wide range of products. Their resilience and strategic vision have not only driven Zepto to unicorn status but also set new benchmarks in convenience and customer focus, positioning them as influential figures for aspiring entrepreneurs in the quick-commerce domain.
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