Zepto, a Mumbai-based quick commerce startup, raised $665 million in Series F funding, doubling its valuation to $3.6 billion. The oversubscribed round was led by Glade Brook, Nexus and StepStone Group. The company, which delivers a wide range of products within urban Indian cities in minutes, plans to expand its “dark stores” network to over 700 by March 2025 and has seen a 140% revenue increase over the past year. Despite the collapse of similar models in other markets, Zepto’s success is attributed to the hyper-local purchasing habits of Indian consumers and improved operational efficiency.
Zepto, a 10-minute delivery app, raises $665M at $3.6B valuation
