Zepto Secures USD 350 Mn Funding, Eyes IPO by 2026 The round was led by Motilal Oswal Private Wealth and also saw participation from investors, including Raamdeo Agarwal, the Taparia Family Office, Mankind Pharma Family Office, RP Sanjiv Goenka Group, Cello Family Office, and Haldiram Snacks Family Office.
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Mumbai-based quick commerce startup Zepto has raised USD 350 million in a funding round led by Motilal Oswal Private Wealth.
The round also saw participation from prominent investors, including Raamdeo Agarwal, the Taparia Family Office, Mankind Pharma Family Office, RP Sanjiv Goenka Group, Cello Family Office, and Haldiram Snacks Family Office.
Celebrity backers Sachin Tendulkar and Abhishek Bachchan also joined the round, marking one of the largest domestic fundraisers for a private startup in India this year.
This investment comes just three months after Zepto secured USD 340 million at a USD 5 billion valuation, signaling strong investor confidence. Over the past six months, the company has raised a total of USD 1.35 billion, including a USD 665 million round in June that brought Avenir, Lightspeed, and Avra onto its cap table.
Zepto's nationwide network of over 550 dark stores spans 17 cities, delivering more than 25,000 products within 10 minutes. The company processes over 700,000 orders daily and reports robust financial growth, with a year-on-year growth rate of 140% and an annualised gross merchandise value (GMV) exceeding USD 1 billion. Nearly 75% of its stores are EBITDA-positive, positioning the company for profitability.
"Motilal Oswal is a strong believer in the future of digital businesses, particularly quick commerce players like Zepto, as potential free cash flow powerhouses," stated Ashish Shanker, MD and CEO, Motilal Oswal Private Wealth.
Zepto's co-founder and CEO, Aadit Palicha, expressed gratitude for the trust placed in the company by domestic investors. Reflecting on Zepto's journey, he said, "When we started, the risk appetite among domestic investors was limited—especially to trust 18-year-olds with their money. Today, we've not only earned that trust but also spearheaded a fundraise of this magnitude, setting a precedent for future startups."
Looking ahead, Zepto plans to go public by late 2025 or early 2026 and is shifting its domicile from Singapore to India to facilitate its IPO plans.
