Zepto raises $650 million in funding at a $3.5 billion valuation

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New Delhi:

E-commerce company Zepto has raised $665 million (roughly Rs. 5,560 crore) in a recent round of funding. The company said on Friday that this took its market capitalization to $3.6 billion, nearly tripling in a year after the Mumbai startup raised $235 million at a $1.4 billion valuation.

Several older investors participated in the funding round

The company’s recent funding round saw participation from new investors like Avenir, Lightspeed, Avera, as well as older investors like Glad Brook, Nexus, Stepstone, Goodwater, and Lashi Groom.

“We went from zero to over a billion in sales in 29 months, faster than any Internet company before us,” said Adit Palicha, co-founder and CEO of Zepto. “Even now on a billion dollar-plus basis, we’re growing more than 100 percent annually.”

Zepto plans to launch an IPO soon

Quick commerce company Zepto plans to launch an IPO soon. In this regard, Zepto has said that the company is planning to bring an IPO in the next 2 to 3 years.

Zepto’s revenue will grow by 1,339% in FY2023

Zepto’s revenue in fiscal 2023 was seen to grow by 1,339 percent annually. During this period the revenue of the company was Rs. 2,024 crore, compared to Rs. 142 crores. However, with the increase in revenue, during this period, the company’s loss was Rs. 390 crores to Rs. 1,272 crores.



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