Quick-commerce startup Zepto has raised $450 million (INR 3,955 crore) in a funding round led by Calpers, valuing the startup at $7 billion. Existing investors such as Lightspeed, Avenir and Nexus Venture Partners also participated. The company now has around $900 million in cash to support future growth.
Zepto said it has increased order volume by 200% in the last 18 months and made more stores profitable. Zepto said the fresh funds will help it regain market share in the quick-commerce space. However, its Zepto Cafe food delivery vertical has been sluggish, with several outlets closing due to supply and staffing issues.
Financially, Zepto's FY25 revenue rose 149% to INR 11,100 crore, but the company is still facing losses. IPO plans were earlier shelved to focus on private fundraising.
