Zepto, the Mumbai-based instant grocery delivery startup, is set to raise approximately $650 million in a new financing round. The funding will be sourced from both existing and new investors, including DST Global, Lightspeed Venture Partners, Nexus, and StepStone. This round of investment will value Zepto at $3.5 billion, a significant increase from its previous valuation of $1.4 billion in August 2023. DST Global, which already holds a stake in Swiggy, a competitor of Zepto, is among the key investors. The funding round highlights the resurgence of late-stage deals in the startup ecosystem. Additionally, Yuri Milner’s investment fund DST Global and Lightspeed Growth are also involved in the discussions.