BENGALURU: Quick commerce start-up Zepto is planning to raise about $250 million, according to sources. It is said that the funding round will include high-net-worth individuals and family offices, and that the company is looking at a valuation of over $5 billion. Sources added that the start-up will close the funding round by the end of this month.
This funding will help Zepto’s growth as its competitors are investing heavily in expanding their reach. In June this year, Zepto raised $665 million at a $3.6 billion valuation and also the company is ready to go public soon.
The quick commerce segment in the country has been witnessing significant growth, and the market is projected to grow significantly. RedSeer expects a 15x jump in India alone by 2025. Founded in 2021 by Aadit Palicha and Kaivalya Vohra, the quick commerce start-up has moved its headquarters to Bengaluru and in the past few months alone, it has recruited about 600 people.
Recently, Swiggy co-founder and group CEO Sriharsha Majety said quick commerce is the hottest category in town with its fast growth, very large TAM (total addressable market), as the category can be $30-$50 billion in four years, supported by strong CAGR.