Zepto, a quick commerce company, has raised $340 million in a follow-on round led by General Catalyst, with new investors Dragon Fund and Epiq Capital joining in.
Existing investors like StepStone, Lightspeed, DST, and Contrary also increased their stakes. This new funding boosts Zepto's valuation to $5 billion, up 40% from $3.6 billion in June. The company has raised over $1 billion in 2024 alone. Zepto plans to double its dark stores to 700 by March 2025, expanding into new markets such as Nasik, Chandigarh, Vizag, and Ahmedabad while increasing its presence in existing metro cities.