Total amount raised
$2 Billion
Latest funding date
11/1/2024
Location
Zepto has successfully raised funding over 16 rounds, with the latest being a Series H round involving nine investors, including CalPERS as a lead investor. The quick-commerce platform delivers groceries and daily essentials within minutes through a network of stores.
Keep reading to explore the intricacies of Zepto's fundraising journey and the investors backing this innovative platform.
What Is Zepto?
Zepto is a quick-commerce platform that delivers groceries and daily essentials within minutes through a network of stores. The company operates primarily in India and is based in Parel, Maharashtra.
Founded by a team of innovative entrepreneurs, Zepto has grown rapidly, employing between 5001 and 10000 people. The company is currently in the Series H stage of funding, reflecting its significant growth and investor interest.
Specializing in online grocery delivery, Zepto offers a wide range of products, including fresh fruits, vegetables, meat, and beauty items. The platform emphasizes speed and convenience, making it a popular choice for consumers seeking quick and reliable service.
How Much Funding Has Zepto Raised?
- Series E
- Amount Raised: USD 31,250,000
- Date: November 2023
- Lead Investors: Goodwater Capital, Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's technology and expand its market reach.
- Series F
- Amount Raised: USD 665,000,000
- Date: June 2024
- Lead Investors: Glade Brook Capital Partners, Nexus Venture Partners, StepStone Group
- Valuation at Round: USD 3.6 billion
- Motivation Behind the Round: To support growth and operational scaling, including reaching 700 dark stores and expanding Zepto Café services.
- Series G
- Amount Raised: USD 340,000,000
- Date: August 2024
- Lead Investors: General Catalyst, Mars Growth Capital
- Valuation at Round: USD 5 billion
- Motivation Behind the Round: To continue scaling operations and expanding services.
- Series G
- Amount Raised: USD 350,000,000
- Date: November 2024
- Lead Investors: Motilal Oswal Wealth
- Valuation at Round: USD 5 billion
- Motivation Behind the Round: To attract domestic investors and strengthen financial positioning ahead of the IPO.
- Series H
- Amount Raised: USD 450,000,000
- Date: October 2025
- Lead Investors: CalPERS
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To prepare for an IPO and expand the delivery network.
Total Amount Raised: USD 1,836,250,000. Current Valuation: USD 5 billion.
Key Investors
- CalPERS
- Details: CalPERS, the California Public Employees' Retirement System, is the largest public pension fund in the United States. It manages pension and health benefits for more than 1.6 million California public employees, retirees, and their families.
- Investment Focus Areas: Technology, healthcare, real estate, infrastructure.
- Notable Investments: Apple, Alphabet, Microsoft.
- Motilal Oswal Private Wealth
- Details: Motilal Oswal Private Wealth is a division of Motilal Oswal Financial Services, focusing on wealth management for high-net-worth individuals. It offers a range of financial services including investment advisory and portfolio management.
- Investment Focus Areas: Digital businesses, quick commerce platforms, financial services.
- Notable Investments: Zepto, various digital and financial services companies.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. It has a strong track record of backing innovative startups.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Airbnb, Stripe, Snap.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a global venture capital firm focusing on early and growth-stage investments. It has a history of supporting disruptive companies in various sectors.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: Snapchat, Nest, Grubhub.
- Goodwater Capital
- Details: Goodwater Capital is a venture capital firm dedicated to investing in consumer technology companies. It aims to support entrepreneurs who are building innovative consumer products and services.
- Investment Focus Areas: Consumer technology, digital health, fintech.
- Notable Investments: Musical.ly, Kakao, Stash.
What's Next for Zepto?
Zepto's future is brimming with opportunities, driven by the rapid expansion of the quick commerce sector in India. With plans to scale its network to 700 dark stores and enhance Zepto Café services, the company is poised to capture a significant market share. The quick commerce market, projected to reach $6 billion in annual sales by 2024, offers a substantial growth avenue for Zepto.
As Zepto prepares for its IPO, the company is likely to attract further investments from both domestic and international investors. The recent $350 million funding round, part of a total $1.6 billion raised over the past 15 months, underscores the strong financial backing and investor confidence in Zepto's business model. This financial momentum will be crucial as Zepto navigates the competitive landscape, facing rivals like Blinkit and Swiggy Instamart.
However, challenges remain. Intense competition, high operational costs, and the need to maintain service quality while scaling rapidly are significant hurdles. Additionally, regulatory challenges and compliance with local laws could pose obstacles. Despite these challenges, Zepto's strategic focus on expansion and innovation positions it well for continued growth and success in the quick commerce industry.
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