Zepto set to raise $300 million to boost domestic shareholding amid quick commerce battle
Quick commerce startup Zepto is set to raise $300 million from domestic investors, double of the earlier panned amount, according to people in the know. Top India family offices and ultra-HNIs will be a part of the financing, multiple sources said. The latest funding will come on the back of the company having raised $1 billion over the past few months amid an intensifying quick commerce battle with rivals Zomato’s Blinkit and recently listed Swiggy’s Instamart.
Post this round, Indian shareholding in Zepto will go to around 35% including the stakes held by the company founders–Aadit Palicha and Kaivalya Vohra. Both the founders have been granted an additional 1% stock based on meeting performance goals, people who know told ET. Celebrities like Bollywood star Amitabh Bachchan and former cricketer Sachin Tendulkar will also be joining the round underscoring the bullishness around the sector.
Family offices of Ravi Jaipuria of RJ Corp, Harsh Goenka of RPG group are also in talks to join the round along with the Motilal Oswal group which has increased its investment cheque of $40 million cheque to over $60 million in the round.
Also Read | Zepto in talks with Indian family offices to shore up another $100-150 million
“The round was oversubscribed which is why they (Zepto) have increased the total offering. They will sell about 6% stake at the $5 billion valuation,” a person aware of the matter said.
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