India’s quick-commerce wars are only just getting started, and Zepto is racking up the ammunition for the long haul. In a move that has set tongues wagging, the unicorn has scooped up $350 million in a fresh funding round, at valuation of a nice round figure of $5 billion. Investors include high-net-worth individuals, family offices, and financial bigwigs, all of whom want in on the Zepto action.
Who’s Who in the Investor Zoo
The list of investors in this round reads like a who’s who of Indian business royalty. We’ve got family offices that could probably buy small countries, HNIs with bank accounts longer than your grocery list, and financial institutions that make your piggy bank look like, well, a piggy bank. Some notable names include:
- Motilal Oswal’s Private Wealth division
- Raamdeo Agarwal
- The Taparia Family Office
- Mankind Pharma Family Office
- RP Sanjiv Goenka Group
- Cello Family Office
- Haldiram Snacks Family Office
- Amitabh Bachchan
- Sachin Tendulkar
This round isn’t Zepto’s first funding foray this year. It comes just three months after the quick-commerce player snagged $340 million from investors led by General Catalyst at a heightened valuation of $5 billion. This round saw new investors Dragon Fund and Epiq Capital enter the fray, while existing investors StepStone, Lightspeed, DST and Contrary increased their stakes. June also saw the firm secure $665 million in a pre-IPO round at a valuation of $3.6 billion. After a lull in late-stage startup funding over the past few years, it seems investors are returning to the table.
Why IPO? Because YOLO (You Only List Once)
So, why is Zepto so keen on going public? Well, apart from the fact that it’s the cool thing to do in startup land, there are some pretty solid reasons:
- Cash, Cash, Baby: An IPO is like opening a giant piggy bank. It gives Zepto access to a boatload of capital to fuel its expansion dreams.
- Street Cred: Being listed on the stock exchange is like getting a verified badge on social media. It’s the stamp of approval that says, “Hey, we’re legit!”
- Exit Strategy: Early investors and employees with stock options can finally cash in.
- Visibility: Nothing says “We’ve made it” like seeing your company’s ticker symbol scrolling across Dalal Street.
Delivering on promise
There’s no doubt that quick-commerce has seen a tremendous uptick in India, driven by a change in consumer lifestyles and a greater affinity for convenience, even at a premium.
From humble beginnings in a dorm room to potentially ringing the bell at the stock exchange, Zepto’s future looks brighter than the screen of a delivery partner’s phone at midnight as an IPO looms large. In Zepto’s success lies a story of hope for entrepreneurs everywhere, and inspiration that with the right idea, relentless execution, and a sprinkle of that special Indian jugaad, anything is possible.
