Quick commerce unicorn Zepto to raise $660 million at $3.62-billion value

DST Global, Lightspeed Venture Partners to join Zepto's ongoing fundraise: Report

Zepto is looking to expand into categories such as medicines and electronics and double down on Zepto Cafe. But the core focus will remain on groceries

Quick-commerce major Zepto is raising $660 million from existing and new investors at a valuation of $3.62 billion, according to people familiar with the development.

Yuri Milner’s investment fund DST Global and Lightspeed Venture Partners are expected to take part in quick commerce unicorn Zepto's ongoing fundraise, according to a report by The Economic Times.

Milner is an Israeli technology investor, science philanthropist, and entrepreneur.

Existing investors who are doubling down on their investments in Zepto include StepStone Group, Nexus Venture Partners, and Glade Brook Capital, the sources added. The fresh round will more than double Zepto’s valuation to $3.5 billion from $1.4 billion, which underscores investors interest in the quick commerce segment.

The funds will enable the company to rapidly expand its dark store footprint in the top cities

The company did not reply to CV Outlooks queries.

The latest fundraise by Zepto is being pegged as a pre-IPO round by the start-up, as the company looks to flip back from being domiciled in Singapore to India. “ The company is looking to start preparing to go public in a year’s time,” according to a source.