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Zepto, a quick commerce startup co-founded by Aadit Palicha, has successfully raised $340 million in a funding round led by General Catalyst's Dragon Fund, Mars Growth Capital, and Epiq Capital. This recent investment brings Zepto's total fundraising in 2024 to over $1 billion, significantly boosting its valuation to $5 billion. The funding comes just two months after Zepto secured $665 million at a $3.6 billion valuation. The company, which competes with Blinkit, Swiggy Instamart, and Flipkart Minutes, plans to use the funds to expand its operations and is considering an IPO in 2025 or 2026. Zepto aims to double its dark stores to 700 by March 2025 and increase its ad revenue to Rs 1,000 crore within the next year.
#YoungTurks | From building a $5 billion #startup to finding a spot on the #HurunRichList—How has life changed for #Zepto's 21-year-old co-founder & CEO @aadit_palicha? He reveals in a chat with @ShereenBhan @ZeptoNow | @CNBCYoungTurks | #QuickCommerce https://t.co/gKcfXWRmxf
🚀Zepto is planning to 2x its dark stores count to 700 by March 2025 following the mega $1Bn fundraise in 2024. @aadit_palicha says part of the funds will be used to boost #Zepto's ad revenue, which is set to hit Rs 1,000 cr within next 12 months @CNBCYoungTurks | @ShereenBhan https://t.co/KOTLFj1jdL
🚀Zepto has bagged $1Bn in funding this year—& its co-founder & CEO @aadit_palicha is likening himself to an investor! "Will avoid the 'silly stuff' & won't deploy a dollar if it doesn't bring high return on investment for our shareholders," he tells @ShereenBhan @CNBCYoungTurks https://t.co/7N9IQe7ndD
