Zepto Targets IPO After Snagging Funds at $3.6 Billion Valuation
- It raised $665 million from backers including Lightspeed
- CEO says Zepto is ready to go public relatively soon
Zepto plans to double warehouses to more than 700 by March 2025 by reinvesting sales from mature stores to fund the expansion.
Photographer: Jaap Arriens/NurPhoto/Getty Images
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Indian grocery delivery startup Zepto is preparing to go public after more than doubling its valuation to $3.6 billion in a round of financing led by US and local investors.
Zepto has raised $665 million from new investors including private equity firm Avenir, venture firm Lightspeed, and Avra, a new fund started by former Y Combinator Continuity head Anu Hariharan. Existing investors including Glade Brook, Nexus, and StepStone Group co-led the round, the Mumbai-based startup said in a statement.