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Zepto raises fresh funds from Elcid Investment at $2.26 Bn valuation

EntrackrEntrackr · 5m ago
Zepto raises fresh funds from Elcid Investment at $2.26 Bn valuation
Medial

Zepto raises fresh funds from Elcid Investment at $2.26 Bn valuation Quick commerce platform Zepto raised Rs 7.5 crore from Elcid Investment at a valuation of Rs 19,231 crore ($2.26 billion), according to its stock exchange filing. This investment comes at a time when Zepto is reportedly in talks to raise $500 million at a valuation of $7 billion led by existing backers General Catalyst, Avenir and others. As per the filing, Elcid Investment is set to acquire 22,55,639 equity shares of Zepto at a price of Rs 33.23 per share, translating to a 0.039% equity stake in the company. According to Entrackr’s estimates, Zepto is now valued at Rs 19,231 crore (approximately $2.26 billion), reflecting a 50% drop from its previous $5 billion valuation during its $340 million fundraise in August last year. Zepto’s total turnover surged 2.5X to Rs 11,110 crore in FY25, up from Rs 4,454.5 crore in FY24. In FY23, the company reported a turnover of Rs 2,024.4 crore, marking a consistent doubling of revenue each fiscal year. Zepto recently completed its shift in domicile from Singapore to India as part of its preparations for a public listing, which has now reportedly been deferred to FY26. Zepto competes with other major quick commerce platforms, including Eternal-owned Blinkit, which reported Rs 2,400 crore in revenue for Q1 FY26, surpassing Eternal’s food delivery business. Meanwhile, rival Swiggy Instamart is yet to file its Q1 FY26 financials.

Rebel Foods launches 15-min food delivery app ‘QuickiES’

EntrackrEntrackr · 10m ago
Rebel Foods launches 15-min food delivery app ‘QuickiES’
Medial

Rebel Foods launches 15-min food delivery app ‘QuickiES’ Cloud kitchen unicorn Rebel Foods is making a foray into the 15-minute food delivery segment to compete with foodtech giants like Zomato and Swiggy. In a LinkedIn post, EatSure co-founder and CEO Sagar Kochhar announced that Rebel Foods has launched its 15-minute food delivery app, QuickiES. Co-founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods operates a network of cloud kitchens and restaurants across multiple countries. It owns and operates several quick-service restaurant (QSR) brands, including Behrouz Biryani, Mandarin Oak, Oven Story Pizza, Sweet Truth, LunchBox, The Good Bowl, Firangi Bake, The Biryani Life, and Wendy’s. Rebel Foods claims to operate over 450 cloud kitchens across India, the MENA region, Indonesia, the UK, and 75 Indian cities. In FY24, the company’s revenue from operations increased to Rs 1,420 crore, while its losses narrowed by more than 42% to Rs 378 crore during the same period. The Mumbai-based startup has raised $773 million in funding to date from investors such as KKR, Temasek, Lightbox, Evolvence, and others. The instant food delivery market is becoming increasingly competitive, with Zepto launching a dedicated app for Zepto Cafe, promising 10-minute food deliveries. Meanwhile, Zomato-owned Blinkit has introduced Bistro, a standalone app for instant food delivery. Similarly, Swiggy has launched a standalone app, SNACC, for 15-minute food delivery. Zomato has also entered the quick food delivery segment, while emerging platforms like Swish, Magicpin, and Zing are gaining momentum.

Amazon expands 10 min quick delivery service ‘Amazon Now’ to Gurugram

EntrackrEntrackr · 9d ago
Amazon expands 10 min quick delivery service ‘Amazon Now’ to Gurugram
Medial

Amazon expands 10 min quick delivery service ‘Amazon Now’ to Gurugram E-commerce major Amazon India has expanded its ultra-fast delivery service, Amazon Now, to Gurugram, further expanding its quick commerce footprint across large Indian cities. Amazon Now enables delivery of daily essentials within 10 minutes through a network of micro fulfilment centres located close to customer neighbourhoods. The service is available through the main Amazon app for select pin codes. The company first piloted the 10-minute delivery service in Bengaluru in December last year. During the pilot, Amazon offered a limited assortment of everyday products, including groceries, personal care items, and small household essentials. Following the Bengaluru pilot, Amazon expanded the service to Delhi, where it rolled out Amazon Now across select locations in the city. In September, Amazon further extended Amazon Now to Mumbai. At the time, the company said it had set up more than 100 micro fulfilment centres across Bengaluru, Delhi, and Mumbai to support the 10-minute delivery promise. Amazon recently said that it is opening two micro fulfilment centres every day to enable 10-minute deliveries across more neighbourhoods in Bengaluru, Delhi, and Mumbai. According to the company, the aggressive expansion expects to take Amazon Now’s footprint to over 300 centres by the end of the year, from around 100 during the festive season. In a recent social media post, Amazon India head Amit Agarwal said the company had piloted the quick delivery service from micro fulfilment centres in Haryana, where teams are able to pick, pack, and deliver everyday essentials within minutes. The move coincides with heightened activity in the quick commerce segment, with players such as Zepto, Blinkit, and Instamart stepping up their expansion efforts. Amazon’s rival Flipkart entered the space earlier with the launch of its quick delivery service, Minutes, in Gurugram and other parts of the NCR region late last year.

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

EntrackrEntrackr · 2m ago
Zepto raises $450 Mn led by CalPERS; plans IPO next year
Medial

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 in talks to raise funds at a $7 billion valuation. Co-founder and CEO Aadit Palicha said the company has shown strong growth, scaling from about 500,000 daily orders five quarters ago to 1.7 million, and expects this momentum to continue. Recently, Zepto also raised Rs 400 crore (around $48 million) from Motilal Oswal Alternates, as part of its ongoing capital expansion ahead of the planned IPO. The company has raised a total of $2.3 billion since its inception, including $1.8 billion since January last year. Zepto’s revenue for FY24 was Rs 4,454 crore, more than double the Rs 2,026 crore reported in FY23. The company’s losses narrowed slightly from around Rs 1,272 crore in FY23 to Rs 1,249 crore in FY24. As per filings, Zepto clocked a turnover of Rs 11,110 crore ($1.3 billion) in FY25. However, the company hasn’t disclosed its last year’s financial results. Besides grocery and food items, Zepto has also started focusing on delivering medicines like its arch rivals Swiggy Instamart, Blinkit, and Flipkart’s Minutes. The firm has launched Zepto Pharmacy in select areas of Mumbai, Bengaluru, Delhi NCR, and Hyderabad.

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