Zepto raises $665M at a $3.6B valuation

Business MInutes

Zepto, India’s fastest-growing consumer internet company, has raised $665 million at a $3.6 billion valuation in a highly 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. Existing investors Glade Brook, Nexus, and StepStone co-led the round with Goodwater and Lachy Groom doubling down as well.

Commenting on the company’s trajectory, co-founder & CEO, Aadit Palicha, said, “This dynamic of stores turning profitable faster and faster has enabled Zepto to grow rapidly while simultaneously achieving near EBITDA positivity at a company level. We plan to continue operating with fiscal discipline as we scale from 350 stores to 700 stores by reinvesting the capital generated from mature stores back into the business. If we are able to achieve this while continuing to delight customers, I believe we will be ready to go public relatively soon.”

Paul Hudson, CIO of Glade Brook Capital Partners, said, “Zepto is redefining e-commerce in India, with uniquely strong product-market fit and world-class execution and innovation. The Zepto team embodies what is possible for the next generation of Indian founders, and Glade Brook could not be more excited to continue our partnership.”

#buttons=(Ok, Go it!) #days=(20)

Our website uses cookies to enhance your experience. Check Now
Ok, Go it!