The reports say that the latest valuation is around 40 per cent higher than the USD five billion valuation that the company commanded during last year’s fundraising
After raising USD 1.35 billion last year, quick commerce platform Zepto is in advanced stages to raise another USD 400 to 500 million in primary capital at a valuation of USD seven billion, as per media reports. The fundraising will be from existing investors in a fresh round.
The reports noted that the latest valuation is around 40 per cent higher than the USD five billion valuation that the company commanded during last year’s fundraising. While there will be participation from existing investors who will put money on a pro rata basis, the reports added that General Catalyst and Avenir Growth will invest a large chunk of the USD 400 to 500 million.
Earlier reports highlighted that as the timeline for the public listing got pushed by a few weeks, General Catalyst and Avenir Growth showed interest in anchoring the company’s latest fundraise round. Citing sources, the reports added that the round is likely to close in about a month.
The company is facing intense competition from leaders in the ecosystem, such as Eternal’s Blinkit and Instamart. Adding to the competition, the rise of newer players like Flipkart Minutes and Bigbasket is eating into the market share of the top companies.
The reports emphasised that the company’s co-founder and Chief Executive Officer (CEO), Aadit Palicha, has been positive on raising money from Indian investors and family offices. However, has also been negotiating with large foreign investors.
