Zepto received ₹7.5 crore from Elcid Investments in a down round that values the Bengaluru quick-commerce firm at ₹19,230 crore (~$2.2 billion). This marks a sharp reset from its $5 billion peak valuation in late 2024, cutting the headline number nearly in half.
Yet the valuation compression sits awkwardly against Zepto's revenue trajectory. The startup's annual turnover in FY25 surged to over ₹11,110 crore from ₹4,454 crore in FY24—a 150% leap that reflects consistent year-on-year revenue doubling since inception.
The paradox resolves when examined against fresh funding talks. Zepto is in advanced discussions to raise $450–500 million in a new round led by General Catalyst, Avenir Growth, and others. That round is expected to revalue the company at $7 billion—a 40% jump from the slashed Elcid-round price.
The startup, founded in 2021, has built scale across over 250 urban dark stores delivering groceries in 10 minutes. It has also shifted domicile back to India and is preparing for an IPO likely in FY26, setting the stage for public-market validation.
