Zepto nears $450 million funding at $7 billion valuation led by US pension fund Calpers

Zepto is in the advanced stages of raising $450 million (around Rs 3,900 crore) as the quick commerce unicorn looks to double down on its offerings, scale operations and increase market share in a competitive landscape, people familiar with the development told Moneycontrol .

Who is leading Zepto’s latest fundraise?

Zepto’s latest round is being co-led by new investor California Public Employees' Retirement System (Calpers), a pension fund based in the US, and General Catalyst (GC), an existing backer of Zepto, as per sources.

“The other internal investors such as Avenir, Avra, Lightspeed, Glade Brook, The Stepstone Group and Nexus Venture Partners will put in the remaining to hold on to their stake by participating in the current round,” one of the persons cited above said.

In July,