Synopsis
The startup’s valuation grew to $7 billion after a financing round that drew existing backers Goodwater Capital and General Catalyst, the Bangalore-based startup said in a statement. The California Public Employees’ Retirement System became a shareholder via the pre-IPO funding.
ETtechQuick commerce platform Zepto has closed a $450-million financing round, in a mix of primary and secondary transactions, led by US-based pension fund California Public Employees’ Retirement System (CalPERS), the company said on Thursday. The round values Zepto at $7 billion, up from the valuation of $5 billion at which it raised capital last year.
Existing investors Avenir, Avra, Lightspeed, Glade Brook, The Stepstone Group, and Nexus Venture Partners have also joined the round.
“We now have approximately $900 million of net cash in bank and more than well-capitalised for the future,” founder and CEO Aadit Palicha said in a statement.
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