Zepto, the fast-growing quick commerce company based in Mumbai, has raised $360 million in a new funding round, bringing its valuation to $5 billion. Notably, this round introduced Singapore’s Dragon Fund as a key new investor, alongside U.S. venture capital firm General Catalyst, which led the round, and San Francisco-based Epiq Capital. Existing backers like StepStone, Lightspeed, DST, and Contrary also increased their stakes.

Bloomberg announced Dragon Fund, by Liqudity, recently joined the $340 million funding round for Zepto, an Indian online grocery startup, elevating its valuation by 40% to $5 billion.

Dragon Fund, by Liquidity, has made a significant investment of $50 million in Zepto, India’s fastest-growing consumer internet company, as part of a $340 million follow-on financing round that elevated Zepto’s valuation to $5 billion.