To compete with competitors Blinkit and Instamart, Zepto has received a total of $1.35 billion in consecutive investment rounds.
According to co-founder and CEO Aadit Palicha, quick commerce startup Zepto has quadrupled its gross order value (GOV) in the previous eight months to over $3 billion (~Rs 24,500 crore) and is almost ready to turn a profit, the company said on Wednesday.
“We informed Goldman Sachs in a research note in April 2024 that Zepto had surpassed $1 billion in annualized GOV. In January 2025, eight months later, we are currently at almost $3 billion in annualized GOV (~Rs 24,500 crore),” Palicha wrote in a LinkedIn post.
Palicha went on to say that he had faith that the company would soon turn a profit overall.
Indeed, Palicha’s January 15 release of Zepto’s GOV statistic would place the company on pace with Blinkit, the market leader at the moment, and much ahead of rival Swiggy Instamart.
At 29 per cent, Zepto is presently the second-largest participant in the market for rapid commerce, behind Blinkit, which holds a 46 per cent market share. Motilal Oswal recently reported that Instamart has a 25 per cent stake, placing it in third position.
Nonetheless, it is noteworthy that, according to Moneycontrol, Motilal Oswal’s wealth team oversaw the mandate for Zepto’s most recent fundraising campaign. In addition, Raamdeo Agrawal, the chairman and co-founder of Motilal Oswal, personally owns shares in Zepto and Swiggy.
In Q2 of FY25, Blinkit recorded a GOV of Rs 6,132 crore, which is equivalent to an annualized GOV of about Rs 24,528 crore. Despite having a bigger market share than Zepto, the Gurugram-based company’s earnings are just slightly higher at Rs 24,500 crore.
Instamart, meanwhile, claimed a GOV of Rs 3,382 crore for the same time frame. Thus, its GOV would be estimated at Rs 13,528 crore on an annual basis, and its market share would not be far behind.
In the run-up to its anticipated initial public offering (IPO) later this year, Zepto has been aggressively raising money lately.
In anticipation, the business recently established Zepto Marketplace Private Limited to streamline its operations. Additionally, the National Company Law Tribunal (NCLT) approved Kiranakart Pte. Ltd as Zepto’s holding company.
The business has actually taken a number of additional actions to strengthen local participation in the lead-up to its IPO, including raising more than Rs 2,900 crore from domestic investors like Motilal Oswal and others.
In two consecutive investment rounds, Zepto has received a total of $1.35 billion to compete with competitors Blinkit and Instamart.