Indian instant delivery startup Zepto has successfully secured $340 million in a Series G funding round, raising its valuation to $5 billion, a significant increase from $3.6 billion in June and $1.4 billion last August. The round is co-led by General Catalyst and Mars Growth Capital and is expected to close within a few days, according to sources familiar with the deal.
Zepto has been rapidly expanding its presence in India’s competitive quick-commerce market, where it competes with established players like BlinkIt, owned by Zomato, and Swiggy’s Instamart. This segment is increasingly drawing customers away from traditional e-commerce giants, including Amazon.
According to sources, Zepto is projected to achieve over $1.5 billion in annualized sales. Meanwhile, BlinkIt is also performing well, with expectations to reach approximately $2 billion in annualized sales this year, as reported in Zomato’s quarterly financial statement.
With the ongoing demand for fast delivery services, Zepto’s continued growth and investment reflect the increasing importance of instant delivery solutions in the evolving landscape of e-commerce in India.
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