13th June 2024- Zepto, the instant grocery delivery startup, is poised for a significant funding round of approximately $650 million, signaling a burgeoning interest in India’s quick commerce sector. With both existing and new investors on board, including StepStone Group, Nexus Venture Partners, and Glade Brook Capital, alongside Avenir Growth, Lightspeed Venture Partners, DST Global, and Avra, Zepto’s valuation is set to soar to $3.5 billion.
This substantial investment comes amidst a challenging funding environment for many late-stage startups. However, Zepto stands out with this being its second major funding round within a year. Its competitors include industry giants like Zomato-owned Blinkit, Swiggy Instamart, and Tata’s BigBasket (BB Now), all vying for dominance in the quick commerce space.
With Nexus Venture Partners and StepStone Group leading the round, Zepto aims to differentiate itself as the only pure-play quick commerce company. Nexus’ significant investment underscores its confidence in Zepto’s growth potential.
Zepto’s valuation has seen remarkable growth over the years, reflecting investors’ optimism towards the quick commerce segment. With an expanding network of dark stores and a robust order volume, Zepto is well-positioned for further growth. The company’s goal of achieving EBITDA breakeven by September 2024 underscores its focus on sustainable business operations.
As the quick commerce sector continues to evolve, Zepto’s latest funding round not only highlights its own growth trajectory but also signifies the immense potential of the Indian quick commerce market.
Source:Link
