Grofers Raises Rs 780 Cr fro Soft Bank and Others
Grofers, the Gurgaon-based hyperlocal delivery start-up has announced an investment round of $120 million. The funding round was led by Japan’s SoftBank Corp. Russian entrepreneur Yuri Milner and existing investors Tiger Global and Sequoia Capital also participated in the round.
This is the largest round of fund raise by Grofers which earlier raised $35 million from existing investors Tiger Global Management and Sequoia Capital in April.
Grofers, which was founded in 2013 by Saurabh Kumar and Dhindsa, is currently operational in 25 cities and gets about 30,000 orders in a day. Grofers lists local groceries shops on its platform from where delivery is made to customers based on their proximity to the shop.
Two of the biggest competitors of Grofers are PepperTap & Big Basket.