Zepto’s newest fundraising spherical is predicted to greater than double the moment grocery supply startup’s valuation. Zepto will reportedly increase round $650 million from current and new buyers at a valuation of $3.5 billion, the double of the present $1.4 billion.
Based on a report by Moneycontrol, buyers are bullish on the corporate’s development potential within the fast commerce section. The present buyers embody StepStone Group, Nexus Enterprise Companions and Glade Brook Capital. Avenir Progress, Lightspeed Enterprise Companions, DST World and Avra are the brand new buyers, the report added.
This might be Zepto’s second giant fundraise in below a yr’s time, it stated. In August it had raised $231 million from StepStone Group, Goodwater Capital, and others. It was then valued at $1.4 billion.
An individual within the know stated that Nexus and its restricted associate, StepStone would lead the spherical by placing in a majority of the entire $650 million. This may be amongst Nexus’ largest investments ever.
Zepto, based by Kaivalya Vohra and Aadit Palicha, was valued at round $250 million in 2021, which elevated to $900 million in 2022 after which $1.4 billion in 2023.
Zepto’s administration had instructed Goldman Sachs in April that it does 5.5 lakh orders a day via its community of 340 darkish shops.
