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Zepto in talks for $250 Mn secondary round

EntrackrEntrackr · 6m ago
Zepto in talks for $250 Mn secondary round
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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Zepto raises $450 Mn led by CalPERS; plans IPO next year

EntrackrEntrackr · 1d 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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