On-demand grocery delivery startup Grofers move base to Singapore

At the time when entire country is talking about Make In India and Digital India, yet another start-up firm has decided to ditch its birthplace and shift base overseas.
Grofers International

At the time when entire country is talking about Make In India and Digital India, yet another start-up firm has decided to ditch its birthplace and shift base overseas. On-demand grocery delivery start-up, Grofers has decided to shift base to Singapore because of their business-friendly tax regimes and regulations.
The Sequoia Capital- backed company has created a new entity called Grofers International and will control its Indian operation by a new subsidiary, Grofers India (GIPL). Confirming the same, Albinder Dhindsa, Co-Founder and CEO, Grofers said, “GIPL will be a 100% owned subsidiary of Grofers International.
Besides better regulations and friendlier corporate regime, this move can also be seen as an attempt to capture other markets. This shift has created a buzz in the market with a flurry of India start-ups such as Flipkart, Adnear, Freshdesk, Druva etc. have already moved their base to either Singapore or the US.
The restructuring at Grofers is expected to facilitate faster fund-raising as its potential investors are based overseas. Grofer’s competitors PepperTap, BigBasket and Swiggy have recently raised funds to fuel their expansion.
The move will also help Grofers open International operations. The company closed its third funding round of Rs. 218 crore this April by Tiger Global Management with participation from Sequoia Capital India. The two-year-old company is currently valued at Rs. 718 crore. Both the founders will hold stakes in Grofers International.

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