Quick commerce platform Zepto has raised $340 million in a follow-on financing round, propelling the company’s valuation to $5 billion. This follows its previous funding round in June 2024.
The latest VC funding was led by General Catalyst, with Dragon Fund and Epiq Capital joining as new investors. Existing investors such as StepStone, Lightspeed, DST, and Contrary also increased their stakes in the company.
Founded in 2021 by Stanford University dropouts Aadit Palicha and Kaivalya Vohra, Zepto has emerged as one of India’s fastest-growing consumer internet companies. Headquartered in Mumbai, Zepto offers quick delivery of over 10,000 products across various categories within 10 minutes through a network of delivery hubs spread across the country.
In its previous funding round in June, Zepto raised $665 million, achieving a valuation of $3.6 billion. The company has plans to double the number of its dark stores from 350 to 700 while maintaining financial discipline, as it prepares for an initial public offering (IPO) within the next two to three years.
