Grofers is a hyperlocal grocery delivery service provider that provides fast delivery services to consumers and grocery stores. The product range includes groceries, fruits, vegetables, cosmetics, electronic devices, baked goods and flowers, and it promises to deliver within one and a half hours after placing an order.
Grofers’ current business covers:
The business covers 26 regions in India including Agra, Ahmedabad, Bangalore, Bhopal and Bhubaneswar.
Grofers’ financing history:
In February 2015, Grofers received US$10 million in Series A funding from Sequoia Capital. Details of the Series B funding were not disclosed.
In November 2015, Indian food delivery company Grofers received US$120 million in Series C financing, led by Japan's SoftBank, followed by Tiger Global, Sequoia Capital and Apoletto Managers. This round of financing will mainly be used to continue expanding its business.
In 2017, Grofers received US$15 million in Series D funding from investors including Grofers International, Tiger Global Management and SoftBank Group.
In March 2018, Grofers completed a Rs 400 crore (approximately US$62 million) Series E financing round from Japan’s SoftBank Group. This round of financing will be used to develop private brands, improve the supply chain system, and increase penetration in cities where the business is located.
In May 2018, Grofers received a US$200 million Series F round of pre-IPO financing, led by SoftBank Vision Fund.
In July 2016, Grofers completed a strategic investment of US$10 million from Abu Dhabi's Capital Investments.
In August 2018, Grofers completed a strategic investment of US$70 million from investors including Sequoia Capital, KTB Investment Group, SoftBank Capital, and Tiger Fund.
In November this year, Indian e-commerce platform Grofers will receive a follow-up investment of approximately US$30 million from SoftBank. Existing investors Tiger Global and South Korean investment company KTB Ventures will follow suit. The amount of financing is expected to be between US$55 million and US$60 million, and the post-investment valuation will be between US$650 million and US$700 million. This round of financing will help Grofers cope with the increasingly fierce competition in India's domestic e-commerce sector.
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