Zepto, a quick commerce platform has raised another $350 million in a funding round led by Motilal Oswal Private Wealth Management.
The round saw participation from Motilal Oswal AMC, Claypond Capital, Raamdeo Agarwal, along with family offices of the Taparias, Mankind Pharma, RP Sanjiv Goenka Group, Cello, Haldiram Snacks, Sekhsaria, Kalyan Family Office, Happy Forgings, and Mothers Recipe (Desai Brothers).
Sachin Tendulkar and Abhishek Bachchan also joined the round, marking one of the largest domestic fundraisers for a private startup in India this year.
Zepto total funding stands at over $1.9 billion with raised more than $1.3 billion so far in 2024. Zepto raised $665 million in June and $340 million in August, valuing the company at $5 billion.
Zepto’s co-founder and CEO, Aadit Palicha, said, “When we started, the risk appetite among domestic investors was limited—especially to trust 18-year-olds with their money. Today, we’ve not only earned that trust but also spearheaded a fundraise of this magnitude, setting a precedent for future startups.”
“Motilal Oswal is a strong believer in the future of digital businesses, particularly quick commerce players like Zepto, as potential free cash flow powerhouses,” said Ashish Shanker, MD and CEO, Motilal Oswal Private Wealth.
Zepto also plans to go public by late 2025 or early 2026 and is shifting its domicile from Singapore to India to facilitate its IPO plans.