Ecommerce News

Zepto raises additional $31.25 mn in Series E round, Retail News, ET Retail

Aadit Palicha, CEO, Zepto

New Delhi: Quick commerce firm Zepto has raised an additional sum of USD 31.25 million, as part of its Series E round, said a report by DealStreetAsia citing the company’s filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA).

Investors including Goodwater Capital, Nexus Venture Partners and angel investors Oliver and Lish Jung, and Mangum II LLC participated in the fundraise.

Zepto confirmed the development without sharing any further information.

In August this year, the company raised USD 200 million in Series E round led by StepStone Group, Goodwater Capital, Nexus Venture Partners, Glade Brook Capital, Lachy Groom, and others.

The company raised funds at a valuation of USD 1.4 billion, making it the first Indian unicorn of 2023.

Last month, the 10-minute grocery delivery firm said that its revenue in FY23 increased by whooping 14 times to Rs 2,024 crore compared to Rs 142.4 crore in FY22. However, its losses ballooned to Rs 1,272 crore against Rs 390.4 crore in the previous year.

Zepto’s co-founder Aadit Palicha in an interview with ETRetail earlier this year, had said that the company is aiming to become profitable in the next 15-18 months, along with targeting an IPO early 2025.

  • Published On Nov 7, 2023 at 01:56 PM IST

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