courtesy: Business Today
Indian grocery delivery startup Zepto is preparing to go public after doubling its valuation at $3.6 billion, as per the reports by Bloomberg. The new investors, including Avenir, Lightspeed, and Avra have joined the company’s cap table by injecting an additional $665 million in fresh funding round. Existing investors Nexus, StepStone, and Glade Brook also participated in the funding round with additional contributions from Goodwater and Lachy Groom.
The company, which was founded in 2021, has secured the latest funding round after raising $235 million in August 2023, which it achieved its unicorn status at the valuation of $1.4 billion.
Aadit Palicha, the co-founder and CEO, said, “This is dynamics of stores turning profitable faster and faster and has enabled Zepto to grow rapidly while simultaneously achieving near EBITDA positivity at a company level.” He added that if the company is able to achieve scaling to 700 stores from 350 stores, “we will be ready to go public relatively soon.”
