The Quick-Commerce Startup Zepto has raised a funding of $350 Million in a fresh round led by Motilal Oswal’s private wealth division. Thai brings the total funds raised by the startup this year to $1 Billion. 

Latest Funding 
The startup has received a fresh impetus of $350 Million from a group of domestic investors making it one of the largest domestic cap acquired by a startup in India. Zepto has claimed to use the latest round to double the number of its dark stores or warehouses by 700 by March 2025. 

Major Investors 
Investors who joined the latest round led by Motilal Oswal include Mankind Pharma Family Office, RP Sanjiv Goenka Group, Cello Family Office, Haldiram Snacks Family Office, Kalyan Family Office, and Mothers Recipe Family Office (Desai Brothers) among others. The list also includes actor Abhishek Bachchan and cricket icon Sachin Tendulkar, the firm said in a statement late Thursday evening.

Third Round in a Year 
This marks the third round of funding for the startup in a year. It recently raised $340 million, led by US-based venture capital firm General Catalyst, bringing its valuation to $5 billion. Earlier, in June, the company secured $665 million in a pre-IPO round at a valuation of $3.6 billion.

Further Rounds
According to Zepto’s CEO Aadit  Palicha the startup eyes for one more pre-IPO round to further increase the stake of the domestic investors in the company before its public listing.  

Quick Commerce in India 
The Quick Commerce market stands at $2.8 Billion Gross Merchandise Value (GMV) making about 5% of India’s overall e-commerce market.  Among the Quick Commerce providers, Zepto enjoys nearly 40%  of India’s Quick-commerce market while Zepto enjoys 28% of the share. 

Nearly 75% of the dark stores owned by Zepto have turned profitable in merely six months rather than 2 years.