Zepto raises $450 Mn led by CalPERS; plans IPO next year

Quick commerce company Zepto has raised $450 million in a funding round led by California Public Employees’ Retirement System (CalPERS), a U.S.-based pension fund making its first investment in the company.

The round, comprising a mix of primary and secondary investments, also saw participation from existing investors including Avenir, Avra, Lightspeed, Glade Brook, The Stepstone Group, and Nexus Venture Partners.

Following this round, Zepto plans to go public next year.

While the Mumbai-headquartered firm did not disclose its latest valuation, it was…