Ecommerce
Zepto’s Early Investors Reap Massive Returns – Up to 6,000% Gain in Secondary Markets
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ByStartupStory | July 14, 2023
Quick commerce platform Zepto, on track to become India’s first unicorn of 2023, is making room on its cap table by providing secondary exits to some of its early backers. The Y Combinator-backed startup is in discussions to raise approximately $150 million from StepStone group, Nexus Ventures, and Gladebrook Capital, aiming for a valuation of around $1.3 billion. As Zepto faces stiff competition from Swiggy’s Instamart and Zomato-owned Blinkit in the quick commerce space, this funding round becomes crucial.
To accommodate new investors, Zepto is offering exits to a group of early investors, who will sell shares worth $9.6 million in a secondary transaction. Regulatory documents reveal that eleven investors, including notable names such as Jim Breyer, Mohandass Kalaichelvan, Nilam Ganenthiran, and Ravi Inukonda, will transfer their shares to a special-purpose vehicle. These early investors, who acquired stakes in Zepto between January 2021 and May 2022, are expected to earn returns as high as 6,000% on their initial investments through this secondary exit.
The value of holdings for early backers, including Oliver Jung and Global Founders Capital, has already increased by over 200% during Zepto’s successive funding rounds in the past two years. For instance, New York-based investor Jacob Honig, who invested $50,000 in Zepto in early 2021, will be transferring his entire stake, expecting to make around $3.1 million. While fresh shares are yet to be allocated to incoming investors, Zepto aims to achieve profitability in 2024 with the upcoming capital infusion playing a significant role.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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