Zepto is in advanced talks to secure an additional $100-150 million from prominent Indian family offices and high-net-worth individuals (HNIs), including Motilal Oswal, to bolster its financial backing. This new round of funding, once closed, will push Zepto’s total capital raised to over $1.5 billion within just four months, reflecting the increasing investor enthusiasm surrounding both the company and the booming quick commerce sector.
According to sources, the Mumbai-based startup is raising this fresh round at a pre-investment valuation of $4.6 billion. Just last August, Zepto secured $340 million, bringing its valuation to $5 billion. The Motilal Oswal Group’s private wealth division is leading this funding mandate, with Motilal Oswal Asset Management Company already committing $40 million to the round.
Zepto has also garnered personal support from Raamdeo Agrawal, Chairman of Motilal Oswal Financial Services, who has invested in the startup independently. Agrawal previously participated in Swiggy’s pre-IPO placement, which generated significant interest among family offices and HNIs.
This latest fundraising effort aligns with Zepto’s strategic move to attract domestic capital ahead of its planned IPO next year. “They are targeting credible homegrown investors to strengthen their capital base before going public,” a source familiar with the discussions noted. Zepto’s growth trajectory remains strong, with the company reportedly reaching a $2 billion annualized gross sale run rate, up from $1.5 billion in May.
In India’s competitive quick commerce landscape, Zepto faces stiff competition from Swiggy Instamart and Zomato-owned Blinkit. Flipkart and BigBasket have also made significant strides in the sector, with the former launching its “Minutes” service and the latter fully pivoting to a quick commerce model.