Zepto, a 10-minute delivery app, raises $665 million at $3.6 billion valuation

Zepto raises $665 million to expand its rapid delivery service in India, doubling its valuation to $3.6 billion.

: Zepto, a quick commerce startup in India, raised $665 million, boosting its valuation to $3.6 billion. The company delivers groceries and other goods within 10 minutes. Zepto plans to expand its network of 'dark stores' and is seeing rapid growth and profitability.

Zepto, a rapid delivery service based in Mumbai, has more than doubled its valuation to $3.6 billion, following a new funding round of $665 million led by Glade Brook, Nexus, and StepStone Group. The company delivers a wide range of products, including groceries and electronic gadgets, to urban consumers within 10 minutes, capitalizing on India's unique hyper-local purchasing culture.

The startup competes with other quick commerce companies like BlinkIt and Swiggy’s Instamart by strategically placing 'dark stores' near high-demand areas to ensure swift order fulfillment. Zepto reported a 140% year-on-year growth and aims to expand its dark store network to over 700 by March 2025, while maintaining high operational efficiency and achieving profitability much faster.

Zepto's founders, Aadit Palicha and Kaivalya Vohra, are focusing on categories with lower-stake purchases rather than high-end electronics. The company intends to expand to smaller cities and is optimistic about going public soon. Some analysts believe that quick commerce firms like Zepto could significantly challenge major e-commerce players in India.

quick commercedark storesrapid delivery