Zepto on Friday announced a USD 350 million fundraise in its latest round that the quick commerce company said marks the largest 100 per cent domestic fundraise within India's startup ecosystem.

The round included investments from Indian High Net worth Individuals (HNIs), family offices, and leading financial institutions. It was led by Motilal Oswal's Private Wealth division.

The fundraise saw participation from several family offices and investors including Motilal Oswal AMC and Raamdeo Agarwal, the Taparia Family Office, the Mankind Pharma Family Office, the Cello Family Office, the Haldiram Snacks Family Office, the Sekhsaria Family Office, the Kalyan Family Office, the Happy Forgings Family Office, the Mothers Recipe Family Office (Desai Brothers) and notable individuals such as Abhishek Amitabh Bachchan and Sachin Ramesh Tendulkar, among others.

"This round reflected the growing commitment of Indian investors to back transformative startups," Zepto said. The funding comes at a time when India's economy is accelerating its shift toward domestically driven growth, Zepto said.

"When we started this venture, the risk appetite among domestic investors was limited, especially to trust 18-year-olds with their money. We are humbled to have reached a place in India's economic growth, where we have not only fostered that trust but also spearheaded a fundraise of this magnitude, which will hopefully set a precedent for the startups that follow," Aadit Palicha, CEO and co-founder of Zepto said.