Zepto raises $450M, hitting a $7B valuation

Zepto raised $450M led by CalPERS, valuing it at $7B, with participation from Avenir and Lightspeed. Cofounder Aadit Palicha reported $900M in cash reserves. Orders rose 200% in 18 months, improving store profitability. The funds will help reclaim market share from Blinkit after Zepto Cafe closures. Revenue grew 149% to ₹11,100 Cr, though profitability remains elusive.