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Elcid Investment has invested Rs 7.5 crore in Zepto, the quick commerce platform, as revealed in a stock exchange filing. This investment comes amid reports that Zepto—backed by existing investors General Catalyst, Avenir, and others—is in talks to raise $500 million at a valuation of $7 billion. According to the filing, Elcid Investment will acquire 22,55,639 equity shares of Zepto at Rs 33.23 per share, translating to a 0.039% ownership stake in the company. A Zepto spokesperson stated that the company’s valuation remains above $5 billion in this round, similar to its previous valuation.
Zepto’s total annual revenue surged 2.5 times, from Rs 4,454.5 crore in FY24 to Rs 11,110 crore in FY25. The company continues its rapid growth, having posted revenue of Rs 2,024.4 crore in FY23 and consistently doubling its top line each year. Zepto has also recently relocated its headquarters from Singapore to India in preparation for a public listing, although the IPO has reportedly been delayed until FY26.
Zepto faces stiff competition from other major rapid commerce platforms. Blinkit, owned by Eternal, reported a revenue of Rs 2,400 crore for Q1 FY26—outpacing Eternal’s food delivery business. Meanwhile, Swiggy Instamart, another key player in the space, is yet to release its Q1 FY26 results.
About Zepto
ZeptoZepto is an Indian quick commerce company offering 10-minute grocery and essentials delivery. Founded in 2021 by Aadit Palicha and Kaivalya Vohra, who were Stanford University dropouts, the company is headquartered in Mumbai. Zepto utilizes a network of strategically placed “dark stores” (micro-warehouses) and advanced technology to achieve its rapid delivery times. Zepto is known for its 10-minute delivery promise, leveraging its efficient delivery network and technology to achieve this speed. They offer a wide range of products, including fresh produce, groceries, and other daily essentials.