Zepto, a leading player in India’s quick commerce space, is planning to raise around $450 million (approximately ₹3,800 crore) in its latest funding round, valuing the company at $7 billion. This round, led by the US pension fund Calpers, also sees participation from existing investors like General Catalyst, Avra, Lightspeed, Glade Brook, StepStone, and Nexus Venture Partners. A major portion of this capital, roughly $350–380 million, will come through a primary transaction aimed at fueling further growth and expansion.
This development was firstly reported by The Money Control.
Previous Funding Rounds and Valuation Growth
Since its inception in 2021 (initially known as KiranaKart), it has raised over $2 billion across 11 rounds, reflecting strong investor confidence. Early investors included Y Combinator’s Continuity Fund and Nexus Venture Partners, with valuations ramping progressively from $225 million in late 2021 to $1.4 billion in August 2023 after a $200 million Series E round led by StepStone Group and Goodwater Capital. In 2024 alone, Zepto raised over $1 billion—the Series F round fetched $665 million at a $3.6 billion valuation, followed by $340 million at a $5 billion valuation in November 2024, led by General Catalyst.
Read this: Zepto Secures ₹400 Cr Fresh Investment Existing Investor Motilal Oswal
Major Product Launches and Innovations
They aggressively diversified and enhanced its offerings beyond core quick commerce groceries and essentials. In May 2025, they launched Zepto Atom, an AI-powered analytics platform for consumer brands on its network. This tool provides live data insights, minute-level updates, and hyperlocal market performance metrics, powered by their custom NLP assistant, Zepto GPT, which delivers real-time strategic recommendations to brands. This move aims to deepen brand partnerships and monetize Zepto’s large consumer data ecosystem ahead of the IPO.
Read this; Zepto To Conduct Fake Weddings Soon — Opens Applications To Select Baraatis
The company also experimented with new verticals, notably Zepto Cafe for quick food and beverage delivery, though it recently closed 45-50 outlets citing operational challenges. Zepto is additionally exploring medicine delivery, aiming to raise order values, but this carries regulatory and execution risks.
Financial Performance and Market Position
According to FY25 regulatory filings, Zepto reported a sharp 150% revenue jump to ₹11,110 crore (~$1.3 billion) from ₹4,454 crore in FY24. Losses, while still significant, have reportedly halved, reflecting improving unit economics through higher fill rates and better contribution margins. CEO Aadit Palicha indicates the firm reached a $3 billion annualized gross order value (GOV) and is targeting EBITDA breakeven within 12-15 months.
Zepto currently holds about 28-29% of India’s quick commerce market, trailing slightly behind Blinkit’s 39%, and competes fiercely with Swiggy Instamart. The company’s 100+ dark stores and technology-driven logistics underpin delivery promises within 8-10 minutes in major metros like Bangalore, Mumbai, Delhi, Chennai, Hyderabad, and Pune.
IPO Plans and Strategic Shifts
They initially targeted a 2025 IPO but has deferred plans to 2026 to strengthen its profitability and market footing. The company is focused on increasing Indian ownership to meet regulatory preferences ahead of listing. It has secured fresh capital from marquee investors, including Motilal Oswal, MapMyIndia, and Elcid Investments, with ongoing talks for a $450-500 million funding round at a $7 billion valuation to extend financial runway and complete scaling initiatives.
Read this: Blinkit Set to Surpass 2,000 Dark Stores by Year-End
Recently, The Ministry of Labour & Employment has signed a significant Memorandum of Understanding (MoU) with Zepto to bolster employment opportunities and youth employability through the National Career Service (NCS) portal. The MoU was signed in New Delhi in the presence of Union Minister Dr. Mansukh Mandaviya, who highlighted NCS as a crucial digital bridge connecting over 52 lakh registered employers with nearly 7.5 crore job vacancies since its inception. Read full details here.
