INFOGRAPHIC: Top Asian Startup Funding — Week 35
These are the funding deals we tracked in the Asian region this week – including Zepto, SkyDrive, Butlr, TransTRACK, and Leo Capital.
- Quick Commerce Unicorn Zepto Secures $340 Million in Follow-on Financing, Aims for Strategic Expansion
- SkyDrive Raises $55 Million in Series C Round to Accelerate eVTOL Aircraft Development
- Butlr Secures $38 Million in Series B Round to Expand in Assisted Living Facilities
- Leo Capital Secures First $27.84 Million Nordic Fund to Invest in B2B Software Startups
- TransTRACK Raises $12 Million in Series A Round for Southeast Asian Expansion
Zepto Secures $340 Million in Follow-on Financing, Valued at $5 Billion
Indian quick-commerce startup Zepto has raised $340 million in a fresh funding round, valuing the company at $5 billion.
This investment was led by General Catalyst, with participation from existing investors including StepStone, Lightspeed, DST, and Contrary, who increased their stakes in the company.
The latest funding comes on the heels of Zepto's previous raise of $665 million in June 2024, which had valued the company at $3.6 billion.
With these two rounds combined, Zepto has secured an impressive $1.005 billion in just two months, highlighting the strong investor confidence in its business model.
Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has quickly established itself in India's competitive e-commerce landscape. The company initially focused on rapid grocery delivery but has since expanded its services to include mobile phones, tech accessories, and gifting items.
This diversification strategy appears to be paying off, as Zepto has shown remarkable growth in a short period.
According to HSBC data, Zepto's market share has nearly doubled from 15% in March 2022 to 28% in January 2024, despite being only three years old. This rapid expansion has positioned the company as a formidable competitor to established players in the quick commerce market.
With this fresh injection of capital, Zepto plans to further strengthen its balance sheet and fuel continued growth. The funding is expected to support the company's expansion efforts in India's evolving e-commerce sector, potentially including enhancements to its technology platform, logistics network, and product offerings.
