Zepto has secured another $350 million fundraise from Indian HNIs, family offices, and leading financial institutions, showcasing the rising confidence in the Indian entrepreneurial ecosystem. The fundraise was led exclusively by Motilal Oswal’s Private Wealth division.
This marks the third fundraise by the platform and takes it total funds raised to $1 billion. Zepto is gearing up for an IPO.
“With participation from renowned family offices and investors such as Motilal Oswal AMC and Raamdeo Agarwal, the Taparia Family Office, Mankind Pharma Family Office, RP Sanjay Goenka Group, Cello Family Office, Haldiram Snacks Family Office, Sekhsaria Family Office, Kalyan Family Office, Happy Forgings Family Office, Mothers Recipe Family Office (Desai Brothers), and notable individuals like Abhishek Amitabh Bachchan and Sachin Ramesh Tendulkar, amongst others this round reflecting the growing commitment of Indian investors to back transformative startup,” a statement said.
Aadit Palicha, CEO & Co-founder at Zepto, shared, “When we started this venture, the risk appetite among domestic investors was limited—especially to trust 18-year-olds with their money. Today, we are humbled to have reached a place in India’s economic growth where we’ve not only fostered that trust but also spearheaded a fundraise of this magnitude, which will hopefully set a precedent for the startups that follow. From day one, our vision has been to play a small role in nation-building, create lakhs of jobs, and offer better services to Indian consumers. That singular focus continues to motivate us today.”
- Also read: Safety market to reach $1 billion in 5 years
Ashish Shanker, MD & CEO of Motilal Oswal Private Wealth, added, “Motilal Oswal is a strong believer in the future of digital businesses, particularly quick commerce players like Zepto, as potential free cash flow powerhouses. India’s biggest and marquee family office clients of Motilal Oswal Private Wealth share this excitement and have participated in this once-in-a-lifetime journey of value creation.”
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.