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Zepto in talks for $250 Mn secondary round
Entrackr
·
4m ago
Medial
Zepto in talks for $250 Mn secondary round Quick commerce and foodtech firm Zepto is in talks for a $250 million secondary round, allowing existing stockholders to offload equity. The move aims to increase Indian investor ownership ahead of Zepto's planned IPO later this year. Bloomberg, which reported the development first, said that the private equity arms of Motilal Oswal Financial and Edelweiss Financial Services are in discussions to acquire shares in this secondary sale. The transactions are expected to take place at a valuation of over $5 billion. It’s worth noting that Zepto raised its last round worth $350 million at the same valuation ($5 billion), where Motilal Oswal was the lead investor. In 2024, the Aadit Palicha-led company raised $1.35 billion, bringing its total funding to $1.85 billion since its inception. Zepto delivers over 25,000 products across various categories within 10 minutes via its extensive network of dark stores. The firm operates more than 550 dark stores and processes upwards of 700,000 orders daily. Through a separate app, Zepto Cafe, it’s also one of the leading 10-minute food delivery service providers. As per TheKredible, Zepto’s revenue from operations surged 2.2X to Rs 4,454 crore in FY24 from Rs 2,026 crore in FY23. Meanwhile, the company managed to reduce its losses marginally by 2% during the same period. Earlier this year, Zepto shifted its domicile from Singapore to India, a move that will expedite the process of listing on the Indian stock exchange.
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Healthtech Unicorn Innovaccer In Talks To Raise $250 Mn From Kaiser Permanente
Inc42
·
1y ago
Medial
Healthtech unicorn Innovaccer is reportedly in talks with US-based health and insurance major Kaiser Permanente to raise a funding round of $200 million to $250 million. Innovaccer last raised $150 million in December 2021 at a valuation of $3.2 billion. If the latest funding talks materialize, the valuation could be lower, ranging between $2.5 billion and $3 billion. The fresh capital will be raised through a mix of primary and secondary funding. Innovaccer, founded in 2014, provides healthcare data analysis to healthcare providers, hospitals, insurance companies, and other organizations.
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Goldman Sachs to invest $50 mn in MoEngage through secondary deal
Inshorts
·
1y ago
Medial
Goldman Sachs is reportedly looking to double down on Bengaluru-based MoEngage and is also in advanced discussions with the software as a service (SaaS) provider to invest $30-50 million (INR 250 – 418 Cr) via secondary deal. "Goldman has decided to buy shares (of MoEngage) from some of the early investors. It’s a fully secondary funding round," ET reported.
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Zepto eyes $250 mn from HNIs, wealth firms at flat valuation
Livemint
·
8m ago
Medial
Quick commerce startup Zepto is reportedly seeking to raise about $250 million from high-net-worth individuals and wealth management firms at a valuation of $5 billion. The Mumbai-based company, which plans to go public next year, aims to balance its captable ahead of its IPO. Zepto recently raised $340 million in a funding round led by General Catalyst, and in a pre-IPO round, it secured $665 million. The company is expanding its network of dark stores and its Zepto Café service to compete with food delivery platforms like Swiggy and Zomato in the quick-commerce sector.
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Darwinbox seeks fresh funding upto $150 mn
Inshorts
·
4m ago
Medial
HR tech platform DarwinBox is reportedly in talks to raise $120-150 million in a fresh funding round to be led by global private equity firms KKR and Partners Group. As per a Mint report, the round, which will be a mix of primary and secondary infusion, is expected to value the company at around $950 million.
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Motilal Oswal, Raamdeo Agrawal Buy $100 Million Zepto Shares; Another $250 Million Round Planned
OutlookIndia
·
2m ago
Medial
Motilal Oswal and Raamdeo Agrawal purchased $100 million worth of Zepto shares, aiming to boost Indian ownership before its planned IPO. The shares were bought in a secondary transaction from foreign investors. Additionally, a $250 million funding round is in progress, involving entities like Edelweiss and Hero FinCorp, bringing total transactions to $350 million. This aligns with Zepto's goal to exceed 50% domestic shareholding, enhancing its valuation set at $5 billion.
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Flipkart's majority stake talks with Zepto fall through
Economic Times
·
1y ago
Medial
Flipkart, one of India's leading ecommerce companies, reportedly held talks with Zepto for a potential deal. However, the discussions did not progress and are unlikely to be revived. Zepto, a major player in the quick-commerce sector, has opted for a financial round instead of a strategic sale. The startup is currently in discussions with private equity funds for a fresh funding round, which is expected to value the company at around $2.5 billion. Flipkart was interested in acquiring a majority stake in Zepto, but the talks did not proceed.
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Zepto Eyes $250M Secondary Sale to Boost Indian Ownership Ahead of IPO
OutlookIndia
·
4m ago
Medial
Zepto, a quick-commerce start-up, is negotiating a $250 million secondary sale to increase Indian investor ownership from 33% to 50% before its planned IPO either later this year or in early 2026. The sale involves discussions with Motilal Oswal and Edelweiss Financial Services for purchasing shares. The transaction aims to enhance Indian ownership without raising additional capital, while current investors have an opportunity to cash out. Zepto competes in the Indian grocery delivery market and recently expanded into electronics.
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Udaan appoints Nillambaran Ganenthiran to boost financial revival and strategic direction
Startup News FYI
·
1y ago
Medial
Former Instacart executive Nillambaran Ganenthiran has joined Udaan's board of directors, the B2B e-commerce company's parent company Trustroot Internet confirmed. Ganenthiran, known for investing in quick commerce startup Zepto, took up his position on August 17. His presence is expected to represent Lightspeed, a principal shareholder in Udaan. Udaan is reportedly in talks for an internal funding round of $200-250 million, though concerns about valuation reduction persist due to economic challenges. Despite financial challenges, Udaan has focused on cost-saving measures and streamlining operations to navigate the market landscape.
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Zepto nears $4 billion annualised GOV, halves OCF burn rate
Economic Times
·
3m ago
Medial
Zepto, led by CEO Aadit Palicha, is nearing a $4 billion annualised gross order value, marking around 300% year-on-year growth. The quick commerce firm has halved its EBITDA and OCF burn within three months and is close to breakeven. New dark stores are also progressing towards breakeven. Zepto aims to increase Indian investor ownership through a $250 million secondary share sale, aligning with its planned public listing later this year.
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Quick commerce startup Zepto in talks to raise IPO size to $800 million-$1 billion: sources
Economic Times
·
6m ago
Medial
Quick commerce startup Zepto is considering raising its IPO size to $800 million–$1 billion, including secondary offerings. CEO Aadit Palicha is in talks with mutual funds about the offering, projecting $5.5 billion in sales by FY26. Zepto plans to expand its 900 stores to 1,000 and focuses on profitability and domestic ownership. The company recently raised $350 million, bringing its total funds to $1.4 billion as it competes in the market.
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