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Zepto’s valuation rockets to $5 billion as investors double down on India’s e-commerce boom
Livemint
·
12m ago
Medial
Indian online grocery startup Zepto has seen its valuation surge to $5 billion after a recent funding round led by General Catalyst Partners. The $340 million funding round also saw participation from new investors Dragon Fund and Epiq Capital, while existing investors like Lightspeed Venture Partners increased their stakes. Zepto plans to double its warehouse count to over 700 by 2025 and is reportedly preparing for a public listing in the near future. The company faces competition from major players such as Amazon India, Swiggy, Zomato, and BigBasket in the fiercely competitive grocery delivery market.
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Fidelity cuts fair value of Meesho, Pine Labs
Economic Times
·
1y ago
Medial
Fidelity's funds have lowered the valuations of Indian e-commerce marketplace Meesho and fintech company Pine Labs, according to filings with the US Securities and Exchange Commission. Meesho's fair value was reduced to around $4.1 billion from $5 billion in August, while Pine Labs' fair value was decreased to $3 billion from $4.7 billion. Investors often revise valuations based on changes in public market counterparts. Meesho's early investors and angel investors are reportedly looking to sell their stake at a valuation of $3-3.5 billion. Both companies saw narrowed losses and increased revenues for FY2023.
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US-based Fidelity cuts valuation of Meesho and Pine Labs
Startup News FYI
·
1y ago
Medial
US-based digital asset management company, Fidelity, has reduced the valuations of Indian e-commerce platform, Meesho, and fintech giant, Pine Labs, according to SEC filings. Meesho's valuation dropped from $5 billion to $4.1 billion, while Pine Labs' valuation decreased from $4.7 billion to $3 billion. These adjustments in valuation reflect the internal assessments by Fidelity and Invesco (another investor in Pine Labs) and do not necessarily indicate a permanent change in the startups' overall valuations.
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Startup Stories Archives
Inc42
·
2m ago
Medial
Inc42 covers various Indian startups and innovations. Highlights include a startup creating alternative EV motors to reduce reliance on China's rare earth materials, Reelies' efforts to revolutionize India's OTT market, and EtherealX's ambitious plans to become India’s SpaceX with reusable rockets. Tonbo's progress in defense tech, Snitch's impressive revenue growth, and Pidge's role in enhancing e-commerce logistics were also discussed, showcasing India's vibrant startup ecosystem.
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Four months after a $3B valuation, Harvey AI grows to $5B | TechCrunch
TechCrunch
·
2m ago
Medial
Harvey AI, a startup specializing in legal automation, has raised $300 million in Series E funding, reaching a $5 billion valuation. The funding round was led by Kleiner Perkins and Coatue, among others. This follows a recent $300 million Series D round at a $3 billion valuation. Harvey plans to double its 340 employees, aiming to extend AI solutions beyond legal work. The company serves 337 legal clients and has a growing annualized revenue run-rate of $75 million.
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In just 3 months, Ramp's valuation jumped to $16B, up from $13B | TechCrunch
TechCrunch
·
2m ago
Medial
Spend management startup Ramp has raised a $200 million Series E funding round led by Founders Fund, boosting its valuation from $13 billion to $16 billion in just a few months. This follows a $150 million secondary share sale and represents more than double its $7.65 billion valuation from a year ago. CEO Eric Glyman noted "incredible growth" in revenue, previously surpassing $300 million in annualized revenue. Existing investors also contributed to the funding round.
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NVIDIA-backed Cohere lays off 5% of staff after $500 mn fundraise
Times Now
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1y ago
Medial
AI startup Cohere is laying off around 20 employees, equivalent to roughly 5% of its workforce. This comes after the startup raised $500 million in funding at a valuation of $5.5 billion, more than double its valuation from June 2023. AMD, Salesforce, Oracle, NVIDIA and Canadian pension investment manager PSP Investments were among the investors that participated in the funding.
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Ontario Teachers' fund weighs $100 million investment in ecommerce logistics startup Xpressbees
Economic Times
·
2y ago
Medial
Ontario Teachers' Pension Plan, a Canadian fund, considers a potential $100 million investment in Indian e-commerce logistics startup Xpressbees. This investment would aid Xpressbees in expanding its operations and further developing its logistics and supply chain solutions. The potential funding highlights the growing interest of international investors in India's dynamic e-commerce and logistics sector. The Canadian pension investor may buy a stake in the firm at about a $1.4 billion valuation.
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Months after unicorn tag, Zepto discusses round at $3-bn valuation
The Arc Web
·
1y ago
Medial
Indian quick-commerce player Zepto is reportedly in talks to raise a minimum of $300 million from global investors to double its valuation. The new funding round comes amid increased consumer demand for instant grocery and the entry of e-commerce giants Flipkart and Amazon into the quick-commerce market. Zepto, which aims to compete against larger players such as Instamart, Blinkit, and BigBasket, has shown improved operational efficiency and aims to reach EBITDA break-even within 12 to 15 months. The company also plans to expand beyond grocery and include categories such as apparel, gifting, and home goods on its platform.
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L’Oréal India seeks to amp up its online play, aims to become €1 bn business
Livemint
·
1y ago
Medial
L'Oréal India aims to double its business in the next 3-4 years, reaching a target of Euro 1 billion. The company believes that despite the slowdown in the FMCG industry, they are shielded because they focus on the top-end segment in urban India. E-commerce is a major growth driver for L'Oréal, accounting for more than one fifth of its business in terms of value. The company expects the number of Indian consumers buying beauty products online to increase from 50 million to 150 million in the next 3-4 years. L'Oréal estimates that 50% of its growth in the next 4-5 years will come from e-commerce.
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Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25
Entrackr
·
1m ago
Medial
Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25 Quick commerce unicorn Zepto clocked Rs 11,110 crore (nearly $1.3 billion) in turnover in FY25, a sharp 150% jump from Rs 4,454 crore in FY24, according to regulatory filings reviewed by Entrackr. Zepto’s FY25 performance comes on the back of aggressive execution and disciplined expansion. According to earlier Aadit Palicha’s post, the company was at $3 billion in annualized gross order value (GOV) and halved its losses over the last year. In FY24, Zepto incurred losses of Rs 1,248 crore on revenue of Rs 4,454 crore. That means the startup spent Rs 1.29 to earn every Rs 1 of revenue in FY24, a figure it has reportedly improved in FY25 with better unit economics, higher fill rates, and stronger contribution margins. We are not comparing Zepto's FY25 numbers with Instamart and Blinkit due to differences in their business models and accounting practices. However, the NOV (net order value) of Blinkit stood at Rs 22,731 crore in FY25, while Swiggy’s quick commerce biz Instamart GOV was recorded at Rs 14,600 crore in the same period. Zepto's founder Aadit Palicha did not comment on the story. As per a recent report, Zepto is in talks to raise $500 million at a potential $7 billion valuation, a significant jump from its previous valuation of $5 billion when it raised $350 million in November 2024. The fresh round is expected to bolster Zepto’s runway ahead of a potential IPO in 2026, as the company pushes toward EBITDA break-even in the next 12–15 months.
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