Zepto has raised significant capital across multiple funding rounds, most recently securing $450 million in October 2025 in a mix of primary and secondary investments, led by the California Public Employees’ Retirement System (CalPERS), at a valuation of $7 billion. Founded in 2021, Zepto specializes in delivering groceries and daily essentials rapidly through its online platform and is preparing for a public listing in 2026.
What Is Zepto and What Does It Do?
Zepto, founded by Aadit Palicha and Kaivalya Vohra in 2021, is an India-based quick-commerce company headquartered in Parel, Maharashtra. The platform delivers groceries, daily essentials, snacks, and small electronics, aiming to provide a seamless and ultra-fast shopping experience.
Operating under a dark store model, Zepto employs between 1,000 and 1,500 people and serves retail, food & beverage, and logistics sectors. With over 1.7 million daily orders and 10 million+ monthly transacting users, Zepto has become one of India’s leading quick-commerce platforms, competing with Blinkit, Swiggy Instamart, and Tata’s BigBasket.
How Much Funding Has Zepto Raised?
- Seed Round
- Amount Raised: $0.5M
- Date: September 2020
- Lead Investors: Contrary
- Motivation: To launch the platform.
- Series A
- Amount Raised: $6.5M
- Date: March 2021
- Lead Investors: Nexus Venture Partners
- Motivation: To expand the team.
- Series B
- Amount Raised: $60M
- Date: October 2021
- Lead Investors: Glade Brook Capital
- Motivation: To enhance logistics capabilities.
- Series C
- Amount Raised: $100M
- Date: December 2021
- Lead Investors: Y Combinator Continuity Fund
- Motivation: To improve technology infrastructure.
- Series D
- Amount Raised: $200M
- Date: May 2022
- Lead Investors: Y Combinator Continuity Fund
- Motivation: To scale operations.
- Series E
- Amount Raised: $231M
- Date: August 2023
- Lead Investors: StepStone Group
- Motivation: To strengthen market position.
- Series F
- Amount Raised: $31.3M
- Date: November 2023
- Lead Investors: Goodwater Capital, Nexus Venture Partners
- Motivation: For operational improvements.
- Series G
- Amount Raised: $665M
- Date: June 2024
- Lead Investors: Glade Brook Capital, Nexus Venture Partners, StepStone Group
- Motivation: To prepare for IPO.
- Series H
- Amount Raised: $340M
- Date: August 2024
- Lead Investors: General Catalyst, Mars Growth Capital
- Motivation: To bolster finances pre-IPO.
- Series I
- Amount Raised: $350M
- Date: November 2024
- Lead Investors: Motilal Oswal Private Wealth Division
- Motivation: To expand the dark store network.
- Series J
- Amount Raised: $450M
- Date: October 2025
- Lead Investors: California Public Employees’ Retirement System (CalPERS)
- Other Participants: Avenir, Avra, Lightspeed, Glade Brook, StepStone Group, Nexus Venture Partners
- Motivation: To support growth, profitability, and IPO preparation.
Total Funding Raised: ~$2.93 Billion
Current Valuation: $7 Billion (as of October 2025)
Latest Funding Date: October 2025
Key Investors
- California Public Employees’ Retirement System (CalPERS)
- Details: U.S.-based public pension fund leading Zepto’s latest $450M round.
- Investment Focus Areas: Institutional venture investments, emerging markets, and technology.
- Notable Investments: Zepto, Lightspeed, and General Catalyst-backed funds.
- Motilal Oswal Private Wealth Division
- Details: Focuses on digital-first businesses and quick commerce.
- Investment Focus Areas: Technology, e-commerce, and consumer startups.
- Notable Investments: Zepto, Beyond Meat, Olly.
- RP Sanjiv Goenka Group
- Details: Indian conglomerate investing across retail and consumer services.
- Investment Focus Areas: Retail, Infrastructure, Consumer Products.
- Notable Investments: Zepto, Flipkart, Medium.
- Mankind Pharma Family Office
- Details: Invests in healthcare and high-growth consumer tech sectors.
- Investment Focus Areas: Pharmaceuticals, consumer health, and startups.
- Notable Investments: Zepto, Ola, HealthifyMe.
- Haldiram Snacks Family Office
- Details: Backs consumer brands and F&B innovations.
- Investment Focus Areas: Food technology, F&B, retail.
- Notable Investments: Zepto, Zomato, Swiggy.
- Sachin Tendulkar
- Details: Cricketer and angel investor supporting technology startups.
- Investment Focus Areas: Consumer products, sports tech, wellness.
- Notable Investments: Zepto, Unacademy, Dream11.
Where Is Zepto’s Headquarters?
Zepto is headquartered in Parel, Maharashtra, India, a major commercial and logistics hub. The strategic location supports its rapid delivery model, enabling close coordination with suppliers, retail partners, and dark store operations across over 80 cities in India.
What’s Next for Zepto?
Zepto now operates over 1,000 dark stores and plans to add hundreds more within the next year, expanding into smaller Indian cities that already account for nearly 20% of total orders. While the company temporarily paused Zepto Café in several cities, it reports a $110M+ annual run rate for the service and expects a rapid recovery as staffing stabilizes.
The company continues to refine its app interface, simplifying navigation and highlighting key offerings, such as Super Saver deals across groceries, electronics, and décor. Zepto aims to go public in 2026, backed by strong institutional confidence from investors such as CalPERS, and driven by consistent growth in India’s projected $42–$100 billion quick-commerce market.
With robust expansion plans, rising profitability across dark stores, and strong investor backing, Zepto is well-positioned to maintain leadership in India’s fast-evolving quick-commerce space.
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