Total amount raised
$2.4B
Latest funding date
2025-10-16
Location
Zepto has successfully raised funding over 16 rounds, with the latest being a Series H round involving nine investors, including CalPERS as a lead investor. The quick-commerce platform delivers groceries and daily essentials within minutes through a network of stores.
Zepto has raised substantial funding across multiple rounds backed by prominent investors including CalPERS, General Catalyst, Glade Brook Capital, Nexus Venture Partners, StepStone Group, Y Combinator, and others.
Keep reading to explore Zepto's fundraising journey from seed stage to its Series H pre-IPO round.
What Is Zepto?
Zepto is a quick-commerce platform that delivers groceries and daily essentials within minutes through a network of dark stores. The company operates primarily in India and is based in Parel, Maharashtra.
Founded by Aadit Palicha and Kaivalya Vohra, Zepto has grown rapidly, employing between 5,001 and 10,000 people. The company is currently in the Series H stage of funding, reflecting its significant growth and investor interest.
Specializing in online grocery delivery, Zepto offers a wide range of products, including fresh fruits, vegetables, meat, and beauty items. The platform emphasizes speed and convenience, making it a popular choice for consumers seeking quick and reliable service.
How Much Funding Has Zepto Raised?
- Seed
- Amount Raised: USD 730,000
- Date: January 2021
- Lead Investors: Global Founders Capital
- Valuation at Round: USD 2.5 million
- Motivation Behind the Round: Initial capital to launch the quick-commerce platform in India.
- Series A
- Amount Raised: USD 60,000,000
- Date: October 2021
- Lead Investors: Glade Brook Capital
- Valuation at Round: USD 225 million
- Motivation Behind the Round: To scale operations and enhance logistics capabilities across India.
- Series C
- Amount Raised: USD 100,000,000
- Date: December 2021
- Lead Investors: Y Combinator Continuity Fund
- Valuation at Round: USD 570 million
- Motivation Behind the Round: To expand the dark store network and improve technology infrastructure.
- Series D
- Amount Raised: USD 200,000,000
- Date: May 2022
- Lead Investors: Y Combinator Continuity Fund
- Valuation at Round: USD 900 million
- Motivation Behind the Round: To accelerate growth and expand Zepto's footprint across Indian cities.
- Series E
- Amount Raised: USD 200,000,000
- Date: August 2023
- Lead Investors: StepStone Group
- Valuation at Round: USD 1.4 billion
- Motivation Behind the Round: Zepto's unicorn round; to scale operations and strengthen the quick-commerce market position in India.
- Series E (Extension)
- Amount Raised: USD 31,250,000
- Date: November 2023
- Lead Investors: Goodwater Capital, Nexus Venture Partners
- Valuation at Round: USD 1.4 billion
- Motivation Behind the Round: To enhance the platform's technology and expand its market reach.
- Series F
- Amount Raised: USD 665,000,000
- Date: June 2024
- Lead Investors: Glade Brook Capital, Nexus Venture Partners, StepStone Group
- Valuation at Round: USD 3.6 billion
- Motivation Behind the Round: To support growth and operational scaling, including expanding dark stores and Zepto Café services.
- Series G
- Amount Raised: USD 340,000,000
- Date: August 2024
- Lead Investors: General Catalyst
- Valuation at Round: USD 5 billion
- Motivation Behind the Round: To continue scaling operations and expanding services across India.
- Series G (Extension)
- Amount Raised: USD 350,000,000
- Date: November 2024
- Lead Investors: Motilal Oswal Private Wealth
- Valuation at Round: USD 5 billion
- Motivation Behind the Round: To attract domestic investors and strengthen financial positioning ahead of a potential IPO.
- Series H
- Amount Raised: USD 450,000,000
- Date: October 2025
- Lead Investors: CalPERS (California Public Employees' Retirement System)
- Valuation at Round: USD 7 billion
- Motivation Behind the Round: Pre-IPO financing to expand the delivery network and strengthen the balance sheet; existing investors Avenir, Avra, Lightspeed, Glade Brook, StepStone Group, and Nexus Venture Partners also participated.
Total Amount Raised: at least USD 2,396,980,000 based on disclosed funding. Current Valuation: USD 7 billion (as of October 2025).
Key Investors
- CalPERS
- Details: CalPERS, the California Public Employees' Retirement System, is the largest public pension fund in the United States, managing pension and health benefits for more than 1.6 million California public employees, retirees, and their families. It led Zepto's Series H round in October 2025 — a rare direct investment in an Indian startup.
- Investment Focus Areas: Technology, healthcare, real estate, infrastructure.
- Notable Investments: Apple, Alphabet, Microsoft.
- Motilal Oswal Private Wealth
- Details: Motilal Oswal Private Wealth is a division of Motilal Oswal Financial Services focusing on wealth management for high-net-worth individuals. It led Zepto's November 2024 domestic funding round, which also brought in prominent Indian family offices and celebrities.
- Investment Focus Areas: Digital businesses, quick commerce platforms, financial services.
- Notable Investments: Zepto, various digital and financial services companies.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies globally. It led Zepto's Series G round in August 2024 at a $5 billion valuation.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Airbnb, Stripe, Snap.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a global venture capital firm focusing on early and growth-stage investments. It has participated in multiple Zepto rounds including the Series F and Series H.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: Snapchat, Nest, Grubhub.
- Goodwater Capital
- Details: Goodwater Capital is a venture capital firm dedicated to investing in consumer technology companies. It co-led Zepto's Series E extension round in November 2023.
- Investment Focus Areas: Consumer technology, digital health, fintech.
- Notable Investments: Musical.ly, Kakao, Stash.
What's Next for Zepto?
Zepto's future is brimming with opportunities, driven by the rapid expansion of the quick commerce sector in India. With plans to scale its network to 700 dark stores and enhance Zepto Café services, the company is poised to capture a significant market share. The quick commerce market, projected to reach $6 billion in annual sales by 2024, offers a substantial growth avenue for Zepto.
As Zepto prepares for its IPO, the company is likely to attract further investments from both domestic and international investors. The recent $350 million funding round, part of a total $1.6 billion raised over the past 15 months, underscores the strong financial backing and investor confidence in Zepto's business model. This financial momentum will be crucial as Zepto navigates the competitive landscape, facing rivals like Blinkit and Swiggy Instamart.
However, challenges remain. Intense competition, high operational costs, and the need to maintain service quality while scaling rapidly are significant hurdles. Additionally, regulatory challenges and compliance with local laws could pose obstacles. Despite these challenges, Zepto's strategic focus on expansion and innovation positions it well for continued growth and success in the quick commerce industry.
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