Grofers raises Rs 400 crore in E-funding round led by SoftBank Group

In a fresh funding round led by Softbank Group, online grocery delivery company Grofers has raised Rs 400 crore and saw participation from Tiger Global and Apoletto Asia. Grofers is headquartered in Gurgaon and has now cumulatively raised $226.5 million with this latest Series E funding round, a press release from the company said. Grofers, founded by Saurabh Kumar and Albinder Dhindsa in 2013, has previously raised $166.5 million from investors like SoftBank, Sequoia Capital and Tiger Global.

Grofers is planning to invest in building private labels and supply chain improvements. A significant amount of investment will go towards building infrastructure and technology and efficient supply chain management to achieve deeper penetration in the cities where it has its presence.

Grofers CEO and co-founder Albinder Dhindsa said, “This fresh round by our existing investors is a vote of confidence and trust in the turnaround at Grofers. We took some hard decisions to fix parts of the business that were not scaling well. Our efforts have clearly contributed in making sure we have a clear path to profitability as well as the largest market share in the online grocery segment; having grown four-fold in the last one year for monthly sales in excess of `100 crore.”

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