SUMMARY
- Quick commerce startup Zepto plans to raise $300 million in an oversubscribed funding round led by top Indian family offices and ultra-HNIs.
- Indian ownership in Zepto will increase to 35%, including stakes held by founders Aadit Palicha and Kaivalya Vohra.
- Zepto’s valuation hits $5 billion, with investors like Amitabh Bachchan, Sachin Tendulkar, and RJ Corp participating.
In a move signaling its growing dominance in the quick commerce space, Zepto, India’s leading instant grocery delivery platform, is set to secure $300 million from domestic investors. The round, oversubscribed by family offices, ultra-high net worth individuals (ultra-HNIs), and industry stalwarts, underscores the robust confidence in the quick commerce sector despite intensifying competition from Blinkit and Swiggy’s Instamart.
This funding push comes shortly after Zepto’s $1 billion fundraising spree, positioning the company as a formidable player in the burgeoning market. According to sources, Zepto plans to sell a 6% stake at a valuation of $5 billion, with the proceeds aimed at building Indian ownership and strengthening ties with domestic investors ahead of its anticipated IPO process.
Post this round, Indian ownership in Zepto is expected to rise to 35%, including the founders’ stakes. Founders Aadit Palicha and Kaivalya Vohra were recently awarded 1% additional equity for meeting key performance metrics. High-profile backers, including Amitabh Bachchan, Sachin Tendulkar, Ravi Jaipuria-led RJ Corp, and Harsh Goenka’s RPG Group, have also joined the round. Notably, Motilal Oswal increased its commitment from $40 million to over $60 million, reflecting growing investor confidence.
Industry heavyweights such as Manipal Group’s Ranjan Pai and Mankind Pharma’s Ramesh and Rajeev Juneja further diversify Zepto’s robust investor base, signaling optimism about the company’s potential to reshape quick commerce in India.
Zepto’s funding pitch emphasized its intent to bolster Indian ownership and establish ties with high-quality domestic investors as a precursor to its IPO. With a milestone of 1 million daily orders, Zepto is currently the largest private player in the space, competing head-on with publicly listed rivals like Swiggy and Blinkit.
According to insiders, the oversubscription prompted Zepto to increase its total offering, leveraging investor enthusiasm to prepare for the next growth phase.
