Motilal Oswal Financial Services Ltd. (MOFSL) has put its weight — and ₹400 crore — behind Zepto, the Mumbai-based unicorn that promises to bring just about anything to your doorstep in 10 minutes.
In a regulatory filing, MOFSL revealed it has picked up 7.54 crore compulsorily convertible preference shares in Zepto. This isn’t their first bet on the company — they also joined Zepto’s $350 million round back in November 2024. The move comes through MOFSL’s treasury investment book, a portfolio aimed at making strong, long-term plays.
Zepto’s Funding Streak Continues
If 2025 were a cricket match, Zepto would be hitting boundaries with every over. The company has been on a roll with fresh investments and strategic tie-ups:
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₹25 crore from MapMyIndia – Along with the money came a smart partnership to integrate advanced mapping SDKs and APIs, making deliveries even faster and more accurate.
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₹7.5 crore from Elcid Investment – Bought shares valuing Zepto at over $5 billion.
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Talks for $450–$500 million – At a target $7 billion post-money valuation, with General Catalyst and Avenir Growth likely to anchor the round.
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IPO plans pushed to 2026 – Zepto wants to bring more Indian institutional investors and family offices on board before going public.
Numbers That Tell a Growth Story
In the world of startups, numbers don’t lie — and Zepto’s tell a story of rapid scaling:
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FY23 Revenue – ₹2,024.4 crore
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FY24 Revenue – ₹4,454.5 crore (a 120% jump)
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FY25 Turnover – ₹11,110 crore (~$1.3 billion)
That’s not just growth — that’s a sprint.
Beyond Groceries – Zepto’s New Play
Zepto started with groceries and ready-to-eat meals, but now it’s thinking bigger. Recently, it launched Zepto Pharmacy, delivering medicines in:
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Mumbai
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Bengaluru
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Delhi NCR
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Hyderabad
This move mirrors what rivals like Blinkit, Swiggy Instamart, BigBasket, and Flipkart Minutes are doing — expanding into new categories, building more stores, and forming partnerships to keep customers hooked.
The Quick Commerce Game Plan
Here’s what’s shaping the industry right now:
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More investor interest – Quick commerce is attracting both global funds and homegrown investors.
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Category expansion – From groceries to medicines, electronics, and more.
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Smarter operations – AI-driven logistics and hyperlocal store networks.
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IPO ambitions – Startups are pacing themselves for stronger valuations before listing.
What This Means for Zepto
With this fresh ₹400 crore from Motilal Oswal, expect Zepto to:
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Open more dark stores across cities
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Deliver even faster
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Add new product lines
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Strengthen ties with domestic investors before its IPO
At this pace, Zepto isn’t just delivering groceries — it’s delivering on its promise to change how India shops.
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