Zepto Raises $340M at $5B Valuation Amidst India's Quick-Commerce Boom

• Zepto, an Indian instant delivery startup, has secured $340 million in a Series G round, valuing the company at $5 billion.
• The funding round, co-led by General Catalyst and Mars Growth Capital, brings Zepto's total fresh funding this year to nearly $1 billion.
• Competing with BlinkIt and Swiggy’s Instamart, Zepto is on track to generate over $1.5 billion in annualized sales.
• Quick-commerce services like Zepto are gaining traction in urban India, leveraging strategically located 'dark stores' to fulfill orders within minutes.
• Analysts note that quick-commerce firms in India are outperforming traditional e-commerce giants like Amazon, which has been slow to adapt to changing consumer habits.

Source: Techcrunch