"Indian quick commerce startup Zepto said it has raised $400 million in a funding round led by a new investor, California Public Employees' Retirement System (CalPERS), a U.S.-based pension fund. The round, which is a mix of primary and secondary investment, also has participation from existing investors, including Avenir, Avra, Lightspeed, Glade Brook, The Stepstone Group, and Nexus Venture Partners. After this funding, the company plans to go public next year."
"Zepto competes with other quick commerce players such as Eternal's (formerly Zomato) BlinkIt, Swiggy Instamart, and Tata-owned BigBasket - all part of publicly listed companies. The startup has been on a funding spree as it picked up $1.3 billion in a span of several months last year. Since Zepto's last funding round in November 2024, Swiggy made its public debut on India's stock exchange, and Blinkit surpassed Zomato in gross order value (the total value of customer orders) for Q1 2025."
Zepto raised $400 million in a round led by CalPERS with both primary and secondary investments and participation from existing investors. The company plans to go public next year. Zepto competes with quick-commerce services such as BlinkIt, Swiggy Instamart, and BigBasket, and also faces competition from Flipkart and Amazon's quick-delivery services. The startup scaled from 500,000 to 1.7 million daily orders in five quarters but paused Zepto Cafe operations in 44 cities due to staffing challenges. Market players and startups are expanding verticalized e-commerce offerings across food, apparel, services, and curated groceries.
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