New Delhi, Aug. 13 -- Financial services firm Motilal Oswal Financial Services Ltd (MOFSL) will invest Rs 400 crore ($45.6 million) in quick commerce startup Zepto, the firm said in an exchange filing on Tuesday.

Motilal Oswal, which had led Zepto's $350 million (Rs 3,070 crore) round in November 2024, will be allotted 7.55 crore compulsorily convertible preference shares.

The latest deal follows MapmyIndia's Rs 25 crore investment in Zepto last week for a 0.049% stake. The deal also included a business agreement to integrate MapmyIndia's mapping software development kits.(SDKs) and application programming interfaces (APIs) into Zepto's platform. The transaction valued Zepto at $5.9 billion, higher than its last external round valuation of $5 billion. Based on this deal's valuation, Motilal Oswal's latest investment translates into an additional 0.78% stake.

Previously, Elcid Investment had acquired Rs 7.5 crore worth of shares in Zepto at the same $5.9 billion valuation.

The latest development comes amid reports that Zepto is in talks with investors to raise around $450-500 million at a valuation of $7 billion.

Last year, Zepto raised over $1 billion across multiple rounds, including the November 2024 round led by Motilal Oswal Asset Management, which also saw participation from family offices and investors such as the Taparia Family Office, Mankind Pharma Family Office, among others.

Founded in 2021, the company offers quick delivery and competes mainly with Swiggy and Zomato-owned Blinkit.

In FY25, its revenue more than doubled to Rs 11,109.95 crore from Rs 4,454.52 crore a year ago. While the full FY25 results are not yet available, in FY24, it posted a net loss of Rs 1,249 crore.

In April, CEO Aadit Palicha had said in a social media post that the company's annualized gross order value (GOV)--total value of all orders placed before any deductions, returns, cancellations, or discounts-was nearing $4 billion, implying 4x on-year growth.

Published by HT Digital Content Services with permission from VC Circle.