Grofers raises $200 mn in SoftBank-led funding round

The new investorKTB and existing investors,Tiger Global ManagementandSequoia Capital, have also participated in this funding round.
Grofers

Grofers, an online grocery retailer, has raised more than $200 million in series F funding round, led by SoftBank Vision Fund.

The new investor KTB and existing investors, Tiger Global Management and Sequoia Capital, have also participated in this funding round.

Grofers said in a statement, “This represents the largest primary financing round in the online grocery sector in India. With the additional funding, Grofers will seek to expand into new markets, bringing its services closer to hundreds of millions of Indian consumers.”

Grofers will continue to build out its supply chain, warehousing infrastructure and private label product offerings. The company is competing with the likes of BigBasket as well as grocery verticals of e-commerce majors like Flipkart and Amazon.in

Albinder Dhindsa, Co-Founder and CEO, Grofers, said, “We are building Grofers for the millions of Indians who cannot buy groceries at low prices due to multiple middlemen and the absence of large aggregators. This latest investment will help scale the company to ensure many more customers can access the best quality products at the best prices.”

 
 
 
 
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