Latest fund raising pegs Zepto’s valuation at $3.5 bn

New Delhi: Quick grocery delivery platform Zepto is geared up to raise nearly $650 million from existing and new investors.

According to sources, the funding will take Blinkit closest rival’s valuation to around $3.5 billion. Sources said that Nexus and its limited partner StepStone will lead the new funding round.

The company did not immediately comment on the development. This is the company’s second big fundraise in about a year’s time.Zepto raised $200 million in August last year from StepStone Group, Goodwater Capital and other investors at a valuation of $1.4 billion, ending the unicorn drought in India.