Zepto, a quick commerce startup, has raised $450 million led by new investor California Public Employees’ Retirement System (CalPERS), a US based pension fund.
The startup was valued at $7 billion. As per media reports, the round included both primary and secondary components, with participation from existing investors, namely, Avenir, Avra, Lightspeed, Glade Brook, StepStone Group, and Nexus Venture Partners, as reported by TechCrunch.
Zepto about IPO
Following the latest fundraiser, Zepto plans to go public next year. The company competes with Blinkit, Swiggy Instamart, and Tata-owned BigBasket, all part of listed entities.
This comes after Zepto raised $1.3 billion over several months last year. Since its previous funding round in November 2024, rival Swiggy has made its public debut, while Blinkit surpassed Zomato’s food delivery business in gross order value for the first quarter of 2025.
“We’ve just closed this financing, although it still feels like Day 1. We have a lot more execution to go before we build a generational company for our customers and shareholders.
Back to work :)” Aadit Palicha, CEO, Zepto, said via post on LinkedIn.
According to Palicha, Zepto has scaled from 500,000 daily orders five quarters ago to 1.7 million and continues to see growth. He said the company has been able to turn its dark stores profitable while adding over 10 million monthly transacting users.
Zepto currently operates in over 80 cities across India with more than 1,000 stores, and plans to expand further in the next 12 months. Nearly 20% of its order volume now comes from smaller cities, the company said.
