Zepto Raises $340M Led by General Catalyst, Valuation Hits $5B, Eyes IPO

Aug 30, 2024, 02:29 AM

Zepto, a quick commerce startup co-founded by Aadit Palicha, has successfully raised $340 million in a funding round led by General Catalyst's Dragon Fund, Mars Growth Capital, and Epiq Capital. This recent investment brings Zepto's total fundraising in 2024 to over $1 billion, significantly boosting its valuation to $5 billion. The funding comes just two months after Zepto secured $665 million at a $3.6 billion valuation. The company, which competes with Blinkit, Swiggy Instamart, and Flipkart Minutes, plans to use the funds to expand its operations and is considering an IPO in 2025 or 2026. Zepto aims to double its dark stores to 700 by March 2025 and increase its ad revenue to Rs 1,000 crore within the next year.