Indian quick-commerce firm Zepto has raised $450 million in a new funding round, lifting its valuation to $7 billion, according to company statements and media reports. The investment is led by CalPERS (California Public Employees’ Retirement System), along with participation from existing backers like Lightspeed, Goodwater Capital, General Catalyst, and others. 

Zepto’s CEO and co-founder Aadit Palicha revealed that the company now holds about $900 million in net cash — a buffer that positions Zepto as “more than well-capitalised for the future.”  The funds will support moderate expansion, new store launches, and maintaining a healthy balance sheet amid aggressive competition in India’s quick-commerce sector. 

Zepto claims to have scaled from 500,000 daily orders a few quarters back to 1.7 million daily orders now, while improving store-level profitability.  With the fresh capital and strong cash cushion, the startup is preparing for a public listing and aims to sustain momentum in India’s booming quick-commerce market.