Jun 21, 08:18 AM

Zepto Raises $665 Million in Series F Round, Valuation Doubles to $3.6 Billion, Eyes IPO

Indian grocery delivery startup Zepto has raised $665 million in its latest funding round, more than doubling its valuation to $3.6 billion. The Series F round saw participation from investors such as Avenir, Lightspeed Venture Partners, Avra Capital, and DST Global. Zepto plans to use the funds to double its dark stores to 700 from the current 350 and expand into new markets including Jaipur, Chandigarh, and Ahmedabad. The company is also preparing for an IPO. This funding round is one of the largest in India's startup ecosystem in the past two years and positions Zepto to compete aggressively with rivals like Blinkit, Swiggy Instamart, and Tata Digital-owned BigBasket. Zepto, known for its 10-minute delivery service, is nearing EBITDA profitability.