Last update:November 22, 2024, 12:24 p.m. IST

Zepto’s funding round included investments from Indian HNIs, family offices and large financial institutions.

Zepto’s fundraising saw the participation of several family offices and investors, including Motilal Oswal AMC and Raamdeo Agarwal. (Representative image)

Zepto on Friday announced a fundraising of $350 million in its latest fundraising round which the rapid commerce company says is the largest 100% domestic fundraising within India’s startup ecosystem. The round included investments from Indian HNI companies, family offices and large financial institutions. The fundraising was conducted exclusively by Motilal Oswal’s Private Wealth division.

The fundraising saw the participation of several family offices and investors, including Motilal Oswal AMC and Raamdeo Agarwal, Taparia Family Office, Mankind Pharma Family Office, Cello Family Office, Haldiram Snacks Family Office, Sekhsaria Family Office, the Kalyan Family Office, the Happy Forgings Family Office, Mothers Recipe Family Office (Desai Brothers) and notable personalities like Abhishek Amitabh Bachchan and Sachin Ramesh Tendulkar, among others.

“This round reflects Indian investors’ growing commitment to supporting transformative startups,” Zepto said.

This “historic financing” comes at a time when the Indian economy is accelerating its transition to domestic-led growth, Zepto said.

“When we started this business, the risk appetite of domestic investors was limited, especially when they entrusted their money to 18-year-olds. Today, we are honored to have reached a point in India’s economic growth where we have not only fostered this confidence, but also led fundraising of this magnitude, which will hopefully set a precedent for the startups that will follow”, Aadit Palicha, CEO and Co. -said the founder of Zepto.

Ashish Shanker, Managing Director and CEO, Motilal Oswal Private Wealth, said Motilal Oswal strongly believes in the future of digital businesses, especially fast commerce players like Zepto, as potential drivers of free cash flow.

“The largest and most prestigious family office clients of Motilal Oswal Private Wealth in India share this enthusiasm and have been part of this once-in-a-lifetime journey of value creation,” Shanker said.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)