MapmyIndia invests ₹25 crore in Zepto at $5.8B valuation
MapmyIndia just put ₹25 crore into Zepto, grabbing a tiny 0.049% stake and valuing the quick commerce startup at $5.8 billion (pre-money) as of August 2024.
The deal happened through a secondary share purchase from a foreign investor by MapmyIndia's parent company.
Zepto to leverage MapmyIndia's mapping tech for smoother deliveries
This isn't just about money—Zepto will now use MapmyIndia's mapping tech to make deliveries smoother and boost the customer experience.
It's a smart move for both, with tech playing an even bigger role in fast delivery services.
Zepto's revenues have doubled in just 1 year
Zepto's revenues have doubled in just one year—from ₹2,024 crore in FY23 to ₹4,454 crore in FY24.
The company is also close to raising another $450-500 million (led by General Catalyst and Avenir Growth), aiming for a $7 billion valuation as it gears up for expansion and possibly going public soon.