Elcid Investments, a Mumbai-based non-banking financial company, has invested ₹7.5 crore in quick commerce startup Zepto, acquiring a 0.039 percent equity stake. This investment places Zepto’s valuation at around ₹19,231 crore or approximately $2.26 billion, which is less than half of its earlier valuation of $5 billion.
The funding comes at a time when Zepto is in advanced talks to raise an additional $450 to $500 million at a valuation of up to $7 billion. This fresh capital is expected to support Zepto’s expansion plans as it prepares for an upcoming initial public offering.
Zepto, founded in 2021, has shown significant growth in recent years. Its revenue jumped by 150 percent in the financial year 2025, reaching ₹11,110 crore compared to ₹4,454 crore in the previous year. While its losses continued, they slightly reduced in the same period.
As part of its preparations for a public listing, Zepto has shifted its headquarters from Singapore to India. The company operates in the highly competitive quick commerce space, where it competes with players like Blinkit and Instamart.
Elcid’s latest investment strengthens its presence in the fast-growing quick commerce segment. At the same time, the lower valuation highlights a broader market trend where investors are re-evaluating high-growth startups more cautiously amid changing market conditions.
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