BENGALURU (Reuters) -India’s Zepto has raised $450 million, it said on Thursday, valuing the quick commerce platform at $7 billion in a booming market driven by urban demand and rapid digital adoption.
Urban consumers are increasingly embracing quick commerce – the delivery of groceries and daily essentials in under 10 minutes, disrupting traditional mom-and-pop stores that have long dominated the country’s retail landscape.
The shift has been fuelled by rising smartphone usage, busy urban lifestyles, and aggressive marketing by startups aiming to build customer loyalty.
“We now have approximately $900M of net cash in bank and more than well-capitalised for the future,” CEO & co-founder Aadit Palicha said in a statement.
Zepto raised the round from new and existing investors including U.S.-based pension fund California Public Employees’ Retirement System, General Catalyst, Goodwater Capital, and Lightspeed, it said in a statement.
Zepto was valued at $5 billion in its previous funding round last year.
Peer Eternal’s current market capitalisation stands at around $34 billion, while Swiggy’s is around $11 billion.
Founded in 2021, the company, which competes with the likes of Eternal’s Blinkit and Swiggy’s Instamart, is preparing for a public listing. In January, it moved its base to India from Singapore.
Zepto offers more than 45,000 products on its platform, including groceries, electronics and apparel.
India’s quick commerce market was worth about 640 billion rupees in fiscal year 2025. It is set to triple in size by 2028, analytics firm CareEdge said in a report in July.
($1 = 87.9660 Indian rupees)
(Reporting by Nishit Navin and Haripriya Suresh; Editing by Janane Venkatraman and Sonia Cheema)
