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Softbank invests USD 60 million in Grofers

The online delivery platform, Grofers has products categories such as Groceries & Staples, Personal Care, Baby & Kids, so on and so forth.

April 01, 2019

grofersGrofers has raised an investment worth about USD 60 million from a leading Japanese multinational holding conglomerate SoftBank. The company has acquired this funding in a fresh Series F round. SoftBank had earlier led a USD 62 million funding round in Grofers, acquiring 35-40% stake in the company in February.

Gurugram-based Grofers is a online supermarket that gets products categories, namely, Grocery & Staples, Household needs, Personal Care, Baby & Kids, Beverages, Biscuits, Snacks and Chocolates, Noodles, Sauces & Instant Food, Breakfast & Dairy, Home & Kitchen, Furnishing & Home Needs, Frozen Food, Pet Care, Vegetables & Fruits. These 5000+ products across these 13 categories are delivered right to the doorstep of the customers.

Started by IIT graduates Albinder Dhindsa and Saurabh Kumar in the year 2013 and as in the year 2018, the company had raised about USD 442.5 million from investors including SoftBank, Tiger Global and Sequoia Capital. The delivery service is operational in 18 cities including Bengaluru, Chennai, Delhi, Gurugram, Hyderabad, Jaipur, Kolkata, Lucknow and Mumbai.

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