IndusLaw has guided Indian quick commerce company Zepto on its latest $350 million funding round led by Motilal Oswal's Private Wealth division.
The family offices of Mankind Pharma, RP Sanjiv Goenka Group, and Haldiram Snacks, as well as individuals, including Indian cricketer Sachin Tendulkar and actor Abhishek Bachchan, also participated in the round.
With this, the Bengaluru-based company has raised more than $1.3 billion in three rounds so far in 2024, highlighting the demand for quick commerce, where everything from groceries to mobile phones are delivered within 10 minutes, Reuters reported.
Quick commerce is transforming the e-commerce sector in India by offering ultra-fast delivery (10-30 minutes) for high-demand goods like groceries and personal care items. The industry is poised for massive growth, with India’s quick commerce market expected to reach $5 billion by 2025 and $9.94 billion by 2029, per some estimates.
Other large quick commerce players in the Indian market have harnessed growing demand and buoyant stock markets to raise funds this year. Swiggy completed a landmark $1.3 billion IPO, while Zomato raised $1 billion through a QIP.
The IndusLaw team was led by partners Winnie Shekhar and Rashi Bharadwaj, and included senior associate Ravishankar M and associates Ravin Abhyankar and Khushi Vardhan.
