Zepto Raises Over INR 2,850 Crore in Follow-On Financing Round Led by General Catalyst, Putting Firm’s Valuation at USD 5 Billion

New Delhi, August 29: Quick commerce unicorn Zepto has raised USD 340 million (over Rs 2,850 crore) in a follow-on financing round led by General Catalyst, putting the Mumbai-based firm's valuation at USD 5 billion.

The fundraising comes after the three-year-old startup raised USD 665 million (about Rs 5,560 crore) in June 2024. The funding round valued the firm at USD 3.6 billion, almost triple its worth a year back. What Is SmilePay? Federal Bank Introduces New Payment Method Using Facial Recognition Technology for Contactless Payments; Check Details.

Zepto co-founder and CEO Aadit Palicha said the rationale behind this follow-on financing was two-fold. "First, the opportunity to bring on board a lead investor of Neeraj Arora's calibre from General Catalyst was one we couldn't pass on. Second, strengthening our balance sheet is a strategic move, particularly as the company continues to deliver robust growth and operating leverage," he said. NPCI Working on Advanced Technologies To Identify and Curb ‘Money Mule’ Accounts Amid Rising of Financial Crime, Fraud.

The funding round also saw participation from new investors Dragon Fund and Epiq Capital. Existing investors StepStone, Lightspeed, DST, and Contrary also increased their stakes, according to a company statement.

Zepto was founded in 2021 by Stanford University dropouts Aadit Palicha and Kaivalya Vohra.

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