Zepto Wants To Raise $650 Million With A $3.5 Billion Valuation
StepStone Group, a limited partner of Nexus Venture Partners, an existing investor, will lead the investment round. Avenir Growth, Lightspeed Venture Partners, DST Global, and Avra, as well as current investor Glade Brook Capital, will also participate in the round. Zepto last raised $31.25 million from Goodwater Capital and Nexus Venture Partners in November 2023, bringing the total amount raised in the Series E round to $231.5 million.
ZeptoZepto Datalabs_in-article-icon is seeking to raise $650 million from both new and existing investors in light of the escalating competition in the rapid commerce market.
The firm will now be valued at $3.5 billion, up from its previous valuation of $1.4 billion, thanks to the investment round, which will be spearheaded by current backer Nexus Venture Partners and its limited partner StepStone Group, according to news agency IANS.
According to a Moneycontrol report, both investors would provide the lion's share of funds to the funding round, making this Nexus' largest investment to date. According to the article, which cited sources, new investors Avenir Growth, Lightspeed Venture Partners, DST Global, and Avra will join the round in addition to current backer Glade Brook Capital.
The announcements were made the day after another source said that Lightspeed Venture Partners and DST Global would be participating in Zepto's fundraising round. Nonetheless, it estimated the round's size to be roughly $300 Mn.
Zepto did not respond to Inc42's inquiries about the developments until after this report was published. The article will be updated as soon as the startup responds.
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