Instant grocery delivery startup Zepto will raise around $650 million from existing and new investors doubling its valuation to $3.5 billion, Moneycontrol reported. Existing investors include StepStone Group, Nexus and Glade Brook Capital, while the new investors would be Avenir Growth, Lightspeed Venture Partners, DST Global and Avra, the report added. Zepto raised $200 million in August 2023.