Instant grocery delivery app Zepto has attracted investor interest for an additional $250 million in a new funding round, valuing the company at around $4.6 billion. This is as per a report by Moneycontrol.
This round could potentially reach $400 million and will include General Catalyst as a new investor, the report added. Private Equity as well as sovereign funds that includes Abu Dhabi Investment Authority (ADIA), KKR, Singapore’s GIC have also shown interest in the quick commerce’s funding round. General Cataylst reportedly plans to invest between between $500 million and $1 billion in India this year. The venture capital firm backs several other companies in the country including Cred, Uni, Spinny, Orange Health, FarMart, and Loop Health.
Read: Zepto Raises $665 Million to Double Store Count to 700+ by March 2025
Interestingly, this is coming at a time when the quick commerce platform recently raised a funding round. The company raised $665 million funding at a valuation of $3.6 billion from investors such as Glade Brook Capital, StepStone Group and Nexus Venture Partners. New investors who participated in the round includes Avenir, Lightspeed, and Avra Capital.
After the fundraise, the company also talked about its expansion plans that includes doubling its store count to 700 by March 2025. Aadit Palicha, co-founder and chief executive of Zepto said, “We plan to continue operating with fiscal discipline as we scale from 350 stores to 700 stores by reinvesting the capital generated from mature stores back into the business.”
Speaking to Moneycontrol, a source said, “It was known that more money was coming into Zepto even before its previous round had closed. If things go as planned, General Catalyst, along with other investors, will join the company’s cap table as part of the new round.”
If the fundraise is completed, Zepto would be one of the few quick commerce platforms to have raised more than $1 billion in a very short span, adds the report.
