New Delhi, Oct. 18 -- Mumbai-based quick-commerce startup Zepto announced a $450 million funding round at a $7 billion valuation led by the US public pension fund California Public Employees' Retirement System (CalPERS), with participation from existing backers Avenir Growth, Avra, Lightspeed, Glade Brook, The Stepstone Group, and Nexus Venture Partners. The company said it now holds "approximately $900 million of net cash in the bank" and is gearing up for an IPO in 2026."This financing is a reflection of our team's execution to grow the business rapidly while consistently building operating leverage. We now have approximately $900 million of net cash in the bank and are more than well-capitalised for the future," said Aadit Palicha, co-...