Indian quick commerce startup Zepto files for $1.2 billion IPO amid warnings of bubble in the sector
Quick commerce is a hotly contested space in India with the entry of Amazon this year and Walmart-owned Flipkart in 2024.
TL;DR
- Zepto has confidentially filed for an IPO to raise $1.22 billion.
- India's quick commerce market is experiencing intense competition from domestic and global players.
- Amazon has expanded its quick commerce service 'Amazon Now' in major Indian cities.
- Walmart-owned Flipkart has also launched its quick commerce service.
- Companies like Swiggy and Eternal (owner of Zomato and Blinkit) are active in the quick commerce space.
- There are concerns about the sustainability of the sector due to rising losses and reliance on fundraising.
- Zepto's losses widened to 33.67 billion rupees in fiscal year 2025.
- Swiggy reported a net loss of 31.17 billion rupees in FY25.