Zepto, a rising star in the quick commerce industry, has successfully secured an additional $340 million in its latest funding round, propelling its valuation to a remarkable $5 billion. This funding round was spearheaded by the U.S.-based venture capital giant General Catalyst, further solidifying Zepto’s position as a dominant player in the market. This brings Zepto’s total fundraising for 2024 to a substantial $1 billion.
In a span of just 12 months, Zepto’s valuation has seen an extraordinary surge, more than tripling in value. The company first hit unicorn status in August last year when it raised $235 million, achieving a valuation of $1.4 billion. The recent investment is part of an ongoing funding series, following a significant $665 million injection in June, which had elevated Zepto’s valuation to $3.6 billion.
This latest round also saw the entry of new investors Dragon Fund and Epiq Capital, while existing supporters like StepStone, Lightspeed, DST, and Contrary increased their stakes, demonstrating continued confidence in Zepto’s growth potential. With its total funding now surpassing $1.5 billion, Zepto is poised for continued expansion and innovation in the highly competitive quick commerce space.
As Zepto prepares for its anticipated IPO, this latest funding boost underscores the growing investor interest in the quick commerce sector and Zepto’s potential to lead in this fast-evolving market.
