Of this amount, $250 Mn will come from General Catalyst, with Mars Growth contributing approximately $50 Mn
As per Moneycontrol’s report, while initially Zepto planned to rake in $400 Mn in the current round, but now it has decided to cap the funding at $340 Mn
In June, Zepto raised $665 Mn from a group of investors, more than doubling its valuation to $3.6 Bn from $1.4 Bn in August last year
Zepto
has reportedly wrapped up a deal to raise a funding of $340 Mn that will now value the quick commerce major at $5 Bn.
As per Moneycontrol’s report, while initially Zepto planned to rake in $400 Mn in the current round, but now it has decided to cap the funding at $340 Mn.
Of this amount, $250 Mn will come from General Catalyst, with Mars Growth contributing approximately $50 Mn. The remaining amount will be provided by existing backers.
Earlier it was reported that Zepto was seeking to raise $310 Mn, with General Catalyst expected to invest around $200 Mn, Mars Growth contributing $50 Mn, and the remainder coming from other investors.
In June, Zepto raised $665 Mn from a group of investors, more than doubling its valuation to $3.6 Bn from $1.4 Bn in August last year.
Over the past year, Zepto’s valuation has surged more than three-and-a-half times, fueled by the soaring demand for quick commerce.
Founded in 2021 by Palicha and Vohora, Zepto has grown rapidly on the back of increasing demand for quick 10-minute deliveries. Last year, Zepto became the first unicorn of 2023 after raising $200 Mn in its Series E funding round.
It is pertinent to note that Zepto is looking to shift its base to India and is eyeing a public listing in 2026.
Further, Zepto is also aiming for a public listing in 2026.
In the quick commerce segment, Zepto competes against the likes of Zomato-backed Blinkit and Swiggy Instamart.
In recent years, the quick commerce model has gained significant traction, with Flipkart Minutes now entering the race. Incumbents like Blinkit, Zepto, and Swiggy Instamart face strong competition from this new player.
