Gurgaon Based Grofers Raises $120-million From Japan’s SoftBank

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.

grofers

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.

Earlier this year, Grofers had raised $10 million and then raised $35 million from Tiger Global Management and Sequoia Capital in April. [source]

1 comment

  • getting funding has become a proxy barometer for measuring success. Unless these companies switch to unit economics they are not doing business. But yes more funding definitely means becoming one of the leaders of the respective sector.

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