Lost Rhythm, Bleeding Coffers And A Fresh Shot At IPO

Zepto has its own rhythm. Every fund-raising kicks off a cycle, starting with a period of hyper-expansion, followed by a deliberate consolidation phase to mend its unit economics, which leads it to the next round of capital inflow. 

It paid off, making Zepto the third biggest force in India’s quick commerce market, which is expected to become a $40 Bn opportunity by 2030, after Swiggy Instamart and Zomato-run Blinkit. The strategy helped jack up the valuation of the company before every round of capital raise.  

The cycle revolved…