- Zepto raises $665M, hitting a $3.6B valuation.
- 75% of stores are EBITDA profitable within six months.
- Expansion plans include doubling store count and enhancing customer experience.
$3.6B valuation? yes, please
Zepto, India’s instant grocery delivery powerhouse, has secured a whopping US$665 million in funding, propelling its valuation to an impressive US$3.6 billion.
The round attracted new investors, including Avra Capital, Lightspeed, and Avenir, alongside existing backers Glade Brook, Nexus, and StepStone.
The company has reported a gross merchandise value surpassing US$1 billion as of May 2024, and nearly 75% of its stores are now EBITDA profitable.
Zepto’s stores have also achieved profitability in just six months on average, a significant improvement from the previous 23-month timeline.
More stores, more fun!
Fueled by its profitability progress, Zepto CEO and co-founder Aadit Palicha has announced plans to expand the company’s store count from 350 to 700 by March 2025.
CTO Kaivalya Vohra also revealed that Zepto intends to explore new areas, grow existing programs, and hire additional staff to support major projects aimed at enhancing the customer experience tenfold.
To read the original article: https://www.techinasia.com/indias-zepto-665m-funding-nears-ebitda-profitability
