Forbes Announces Singapore’s Dragon Fund Joins General Catalyst and Epiz Capital as key Investors helping Zepto Raise $360 Million, Bumping Valuation To $5 Billion
Zepto, the fast-growing quick commerce company based in Mumbai, has raised $360 million in a new funding round, bringing its valuation to $5 billion. Notably, this round introduced Singapore’s Dragon Fund as a key new investor, alongside U.S. venture capital firm General Catalyst, which led the round, and San Francisco-based Epiq Capital. Existing backers like StepStone, Lightspeed, DST, and Contrary also increased their stakes.
Dragon Fund’s participation in this round highlights its growing interest in the Indian market, marking a significant move as it joins other global investors in supporting Zepto’s rapid expansion. Zepto, founded in 2021 by Aadit Palicha and Kaivalya Vohra, has quickly scaled its operations, with plans to double its network of “dark stores” to 700 across India by March 2025.
Zepto’s strong financial performance and growth prospects have attracted attention from investors like Dragon Fund, which sees potential in the company’s innovative quick commerce model. As Zepto continues its trajectory toward potentially going public, Dragon Fund’s involvement underscores its strategic bet on the future of e-commerce in India.
