In a significant milestone for India’s startup ecosystem, quick-commerce startup Zepto has raised $350 million in a fresh funding round, led by Motilal Oswal’s Private Wealth Division. This round stands as the largest 100% domestically-backed fundraise in the country’s startup history.
The funding round saw participation from a diverse group of high-net-worth individuals (HNIs) and family offices, including Raamdeo Agarwal, the Taparia Family Office, the Mankind Pharma Family Office, the RP Sanjiv Goenka Group, Cello Family Office, Haldiram Snacks Family Office, Sekhsaria Family Office, Kalyan Family Office, Happy Forgings Family Office, and Mothers Recipe Family Office (Desai Brothers). Notable investors also include famous figures like Abhishek Amitabh Bachchan and cricket legend Sachin Tendulkar.
Zepto, which has quickly become a leading player in the ultra-fast grocery delivery space, has now raised a total of $1.35 billion across three funding rounds in the past six months. Earlier this year, in June 2024, the startup secured a substantial $665 million in a funding round that boosted its valuation from $1.4 billion to $3.6 billion. Just a couple of months later, Zepto raised another $340 million in late August, pushing its valuation to an impressive $5 billion.
Founded by Aadit Palicha, Zepto competes in the rapidly growing quick-commerce sector against rivals like Zomato-owned Blinkit. The latest funding round further cements Zepto’s position as a dominant player in India’s competitive online grocery market.
The fresh capital will help the startup scale its operations, enhance product offerings, and strengthen its leadership in the fast-evolving quick-commerce industry.
