Overview

• CalPERS led the round as a new investor, with participation from Avenir, Avra, Lightspeed, Glade Brook, The Stepstone Group and Nexus Venture Partners.
• The financing comprised a mix of primary and secondary transactions, and Zepto says it now holds roughly $900 million in net cash.
• Zepto reports scaling to about 1.7 million daily orders and a rising share of profitable stores across its network.
• Leadership is signaling plans to pursue a public listing next year following the strengthened balance sheet.
• The company targets measured expansion, including launching a few hundred new dark stores over 12 months and growing new offerings such as medicine delivery in major cities.