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Zepto’s Reported $100 Million Funding Talks in October 2024: What Happened Next

In October 2024, reports described Zepto discussing a $100 million raise. TechCrunch later reported a $350 million round at a $5 billion valuation in November.
From TheFinanceBase Team2 min to read
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In October 2024, Zepto was reported to be discussing a $100 million investment from Indian family offices and high-net-worth individuals. That was a proposed raise, not the final size of the subsequent round: TechCrunch reported in November that Zepto secured $350 million at a $5 billion valuation.

What the October 2024 report said

TechCrunch reported on October 17, 2024, that Zepto was in advanced talks to raise $100 million. The prospective investors were Indian family offices and high-net-worth individuals, and Motilal Oswal was managing the mandate. The report said the proposed financing would value Zepto at $5 billion post-money, the same valuation TechCrunch had cited for a $340 million financing in August 2024. It also said Motilal Oswal had previously invested $40 million and had received commitments for more than half of the allocation. TechCrunch’s October report attributed the account to people familiar with private talks; it was not a company announcement.

The outlet called the proposal Zepto’s third funding in six months. At the time, it described the Mumbai-headquartered company as a quick-commerce startup delivering groceries and office stationery in 10 minutes across multiple Indian cities, and named Blinkit, Swiggy Instamart and BigBasket as competitors. Those are descriptions from the 2024 report, not a statement of Zepto’s current service area or competitive position.

Contemporaneous reports gave different proposed terms

Other outlets reported a broader potential raise and a different valuation basis. These accounts were also based on people familiar with the discussions; they should not be treated as a single agreed term sheet.

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Outlet and date Proposed amount Valuation reported Motilal Oswal’s role
TechCrunch, October 17, 2024 $100 million $5 billion post-money Managing the mandate; the report also said the firm had previously invested $40 million and had commitments for more than half the allocation. Source
Moneycontrol, October 17, 2024 $100–150 million Not stated in this account Reportedly investing around $40 million and facilitating additional commitments. Source
The Economic Times, October 17, 2024 $100–150 million $4.6 billion pre-investment Not stated in this account. Source

Post-money valuation includes the new investment; pre-investment (pre-money) valuation refers to the company’s value before it. Because the outlets described different proposed amounts and valuation bases, their figures are not directly interchangeable. None of the October accounts alone establishes finalized terms.

The round later reported as completed was $350 million

In November 2024, TechCrunch reported that Zepto had secured $350 million at a $5 billion valuation, describing it as the company’s third financing in six months. The reported investors included Indian family offices, wealthy individuals and Motilal Oswal. The November report is the appropriate account of the subsequent round’s reported outcome: the October $100 million was the amount discussed during talks, not the completed round’s reported total.

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What later funding reports establish—and what they do not

A July 2026 Financial Express report said Zepto had last raised capital in October 2025 and was considering a pre-IPO funding round. That dated report does not establish whether those plans resulted in a completed financing. Financial Express’s July 2026 account should therefore be read as a report of plans at that time, not confirmation of a current raise or its outcome.

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