Zepto, on Friday, announced that the consumer internet company has raised a funding of $350 million in its latest round, marketing the largest 100 per cent domestic fundraise in India’s startup ecosystem. The round, it added, included investments from Indian HNIs, family offices, and financial institutions. The fundraise was led exclusively by Motilal Oswal’s Private Wealth division.
Aadit Palicha, CEO & Co-founder, Zepto, said, “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.”
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Ashish Shanker, MD & CEO, Motilal Oswal Private Wealth, said, “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.”
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The funding comes at a time when India’s economy is accelerating its shift toward domestically driven growth. The participation came in from renowned family offices and investors such as Motilal Oswal AMC and Raamdeo Agarwal, the Taparia Family Office, Mankind Pharma Family Office, RP Sanjiv 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.
The funding comes just three months after Zepto had secured $340 million from investors led by General Catalyst at a valuation of $5 billion.
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