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Zepto Raises $665 Million at $3.6 Billion Valuation in Largest Funding Round of 2024

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In the largest funding round of the year, instant grocery delivery app Zepto has secured $665 million, elevating its valuation to $3.6 billion. This substantial investment reflects the growing confidence in India’s booming quick commerce sector, even as investors become more selective amidst tightening capital markets.

The $665 million round, entirely a primary investment, was predominantly led by existing backers such as Glade Brook, Nexus, and StepStone. These investors contributed the majority of the funds, demonstrating their continued confidence in Zepto’s potential and growth trajectory.

New investors, including Avenir Growth, Lightspeed, and Avra, also participated in the round, injecting additional capital and joining Zepto’s cap table. Their involvement highlights the increasing interest and competition among investors to be part of the rapidly expanding quick commerce industry in India.

Tags: FUNDINGZepto

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