Zepto is a rapid delivery startup that has increased its valuation to $5 billion after it closed a funding round of $340 million led by General Catalyst. It is almost double the valuation it attained in June, which was $3.6 billion. The fresh capital will drive expansion plans of the company at Zepto, including doubling dark stores and entering new geographies.
The company has been on a growth path and secured over $1 billion funding this year alone. This latest investment underlines aptly how much confidence investors have in Zepto to disrupt the quick commerce industry. With the entry of big players like Flipkart and Amazon, the competition is heating up, and Zepto’s strategic moves are all that matters regarding the leadership position.
