Funding · Commerce & Consumer Brands

Zepto raises $500m in secondary sale at $5bn valuation

By Startup Enthusiast · 29 July 2025

What they do

Zepto targets EBITDA break-even within the next 12-15 months

CEO Aadit Palicha leads the quick commerce startup

The company aims for an IPO in 2026

Zepto reported FY25 revenue of Rs 11,109.9 crore showing strong growth.
Revenue grew approximately 149-150% year-over-year compared to the previous fiscal year.
The company executed a $500 million secondary round led by Motilal Oswal Private Wealth.
This transaction valued Zepto at $5 billion according to primary sources.
Founders participated in this secondary sale alongside other existing shareholders.
A separate primary round of $450-500 million was also mentioned with a higher valuation.
Elcid Investments subscribed to CCPS worth Rs 7.5 crore in a domestic round.
Zepto plans to cross 50% Indian ownership before its planned initial public offering.

Zepto holds a 26% market share in the quick commerce sector.
Competitor Blinkit leads with 41% market share followed by Swiggy Instamart at 27%.
The company aims to achieve EBITDA break-even within the next 12-15 months.
Zepto targets an IPO in 2026 as part of its strategic roadmap.

Zepto operates as a quick commerce platform for rapid grocery and essential delivery.
The business model relies on dark stores to ensure fast delivery times to customers.
Annualized Gross Order Value reached approximately $4 billion as of April.
GOV growth accelerated by 300% over the past year.
The company spent Rs 1.29 per Rs 1 of revenue in FY24.
Operating cash burn was halved compared to the prior fiscal year.
Net loss stood at Rs 1,248-1,249 crore in FY24.
Domestic ownership exceeded 40% prior to the recent secondary transaction.

Motilal Oswal Private Wealth (lead) — Led the $500 million secondary round transaction.
General Catalyst (lead) — Lead investor in the concurrent primary funding round.
Avenir Growth (lead) — Co-led the primary funding round alongside General Catalyst.
Elcid Investments (existing) — Existing investor from an earlier domestic round who subscribed to CCPS.

Product: A rapid-delivery app for groceries and everyday essentials.
Customers: Consumers ordering groceries and essentials online.
How it makes money: It earns from product margins, delivery fees, and order-value thresholds across its quick-commerce network.
What sets it apart: It was built as a quick-commerce native company from day one.
Operations: Operates dark-store based 10-minute delivery across multiple Indian cities.