Daijiworld Media Network – Bengaluru

Bengaluru, Oct 16: Quick commerce (qcom) unicorn Zepto on Thursday announced the closure of a $450-million funding round at a valuation of $7 billion. The round was led by US pension fund CalPERS and included existing investors General Catalyst, Avra, Lightspeed, StepStone, and Nexus Venture Partners.

$1 billion war chest for growth

Zepto CEO and co-founder Aadit Palicha said, “This financing reflects our team’s execution to grow rapidly while building operating leverage. We now have approximately $900 million of net cash in the bank and are more than well-capitalised for the future.” The round included primary and secondary transactions, creating a total war chest of $1 billion.

Aggressive fundraising ahead of IPO

The company, eyeing an initial p

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