Zepto has received $350 million (INR 2,950 crore) in a deal led by Motilal Oswal's private wealth business

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The round included participation from domestic high-net-worth individuals (HNIs), family offices, and financial institutions

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Round involved Taparia Family Office, Mankind Pharma Family Office, RP Sanjiv Goenka Group, and Cello Family Office

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Family offices of Haldiram Snacks, Sekhsaria, Kalyan, Happy Forgings, Mothers Recipe, and celebrities Abhishek Bachchan and Sachin Tendulkar have invested

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The funds might be used to expand the 10-minute quick delivery service, dark store network, and finance operations

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The development comes a week after reports broke that Zepto was looking for $300 million from domestic investors

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Zepto has raised more than $1.3 billion in recent months. In June, it closed a $665 Mn round, followed by a $340 million financing round in August at a $5 Bn valuation

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The fundraising coincides with increased competition in India's growing quick commerce market

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Swiggy with its recent IPO funds and Blinkit, owned by Zomato, have expanded their operations and product offerings

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Zomato aims to raise INR 8,500 Cr through qualifying institutional placement

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