Company Name : Grofers
Funding Amount : $ 120mn
Investor(s) SoftBank Corp
Funding Round : Not Disclosed
Grofers has raised $120-million from Japan’s SoftBank. Russian entrepreneur and venture capitalist Yuri Milner and existing investors Tiger Global and Sequoia Capital also participated in the funding round.
The hyperlocal delivery startup is now valued at about $400 million. The company will use the fresh funds to strengthen its supply chain.
The company currently operates in 25 cities and claims to get around 30,000 orders a day. It plans to attain 50,000 orders a day, in the next few months.