Quick commerce platform Zepto closed a $450 million round in a mix of primary and secondary transactions on Thursday. Founder Adit Palicha told ET in an interview that the firm plans to invest the proceeds in growth, adding a “few hundred” dark stores, and focus on volume expansion over the next 12 months. This is likely to increase competition and intensify cash burn in the industry, as platforms focus on expanding and discounting, according to analysts.
This funding comes a few months after Eternal-owned Blinkit and Swiggy’s Instamart were…
