Zepto has raised $665 million at a $3.6 billion valuation in a oversubscribed round – just nine months after the company raised $235 million at a $1.4 billion valuation. Avenir, Lightspeed and Avra (Anu Hariharan’s new fund) joined the company’s cap table as new investors, among others.
The existing investors Glade Brook, Nexus and StepStone co-led the round with Goodwater and Lachy Groom doubling down as well, according to a statement from Zepto.
In terms of business performance, the company’s Gross Merchandise Value (GMV) has multiplied year-on-year to a base of more than $1 billion, and 75 per cent of the company’s stores are fully Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA)-positive (as of May).
Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has become one of India’s fastest-growing internet companies.
Based in Mumbai, it delivers over 10,000 products, ranging across categories in 10 minutes.
