Zepto Secures $350M Funding, Becomes India’s Highest-Funded Startup in Three Years
Quick-commerce giant Zepto has raised $350 million in a landmark funding round, maintaining its $5 billion valuation. The funding, led by Motilal Oswal’s Private Wealth division, included contributions from Indian high-net-worth individuals (HNIs), family offices, and major financial institutions, marking the largest 100% domestically funded round in India’s startup history. This development propels Zepto to the top spot as the highest-funded startup in the country over the past three years, with a total of $1.35 billion raised in 2024.
The funding also boosts Zepto’s domestic ownership, now exceeding 35%, as the company aims to establish itself as a domestically-owned “Indian” enterprise. As of October 2024, Nexus Venture Partners held the largest stake in the company at 18.6%, followed by Glade Brook Capital (10.3%) and StepStone Group (9.8%), though the latest shareholding pattern remains undisclosed. Notably, Zepto’s CEO Aadit Palicha revealed plans to secure another pre-IPO funding round to further increase domestic ownership ahead of its stock market debut.
Zepto’s growth highlights a shift in the Indian startup ecosystem, with the company prioritizing local investments amid a traditionally foreign-dominated funding landscape. It currently counts global investors such as General Catalyst, Dragon Fund, and Lightspeed Ventures among its backers, while this latest move underscores its commitment to bolstering Indian financial involvement as it eyes a strong IPO performance.
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