Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • Nepal protests
  • Nepal Protests Live
  • Vice-presidential elections
  • iPhone 17
  • IND vs PAK cricket
  • Israel-Hamas war
fp-logo
Online grocery retailer Grofers raises over $200 mn led by SoftBank Vision Fund
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Business
  • Online grocery retailer Grofers raises over $200 mn led by SoftBank Vision Fund

Online grocery retailer Grofers raises over $200 mn led by SoftBank Vision Fund

Press Trust of India • May 15, 2019, 16:11:39 IST
Whatsapp Facebook Twitter

Online grocery retailer Grofers on Wednesday said it has raised over $200 million (over Rs 1,400 crore) in funding, led by SoftBank Vision Fund

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Online grocery retailer Grofers raises over $200 mn led by SoftBank Vision Fund

New Delhi: Online grocery retailer Grofers on Wednesday said it has raised over $200 million (over Rs 1,400 crore) in funding, led by SoftBank Vision Fund. The series F funding saw participation from a new investor, KTB, and existing investors, Tiger Global Management and Sequoia Capital. This represents the largest primary financing round in the online grocery sector in India, Grofers said in a statement. “With the additional funding, Grofers will seek to expand into new markets, bringing its services closer to hundreds of millions of Indian consumers,” it added. [caption id=“attachment_5791951” align=“alignleft” width=“380”]Representational image. Image courtesy: Grofers.com Representational image. Image courtesy: Grofers.com[/caption] The company did not give details about its valuation post this fundraising. However, it has been previously reported that Grofers valuation stood at $600 million. Grofers - which competes with the likes of BigBasket as well as grocery verticals of e-commerce majors such as Flipkart and Amazon.in - will also continue to build out its supply chain, warehousing infrastructure and private label product offerings. “We are building Grofers for the millions of Indians who cannot buy groceries at low prices due to multiple middlemen and the absence of large aggregators. This latest investment will help scale the company to ensure many more customers can access the best quality products at the best prices,” Grofers co-founder and CEO Albinder Dhindsa said. Grofers is pursuing profitability by consolidating its presence in the cities of operations and is focusing on doubling its sales to Rs 5,000 crore by FY20. It is also gearing up to hit the capital market with an initial public offer (IPO) within the next three years. The company narrowed its standalone losses to Rs 258.3 crore in the financial year 2017-18, while its income grew by over 57 percent from the previous fiscal, according to regulatory documents filed by the company.

Tags
NewsTracker bigbasket Grofers SoftBank Vision Fund online grocery retailer
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

Tata Harrier EV vs Mahindra XEV 9e: Design and road presence compared

Tata Harrier EV vs Mahindra XEV 9e: Design and road presence compared

The Tata Harrier EV and Mahindra XEV 9e are new electric SUVs in India. The Harrier EV has a modern, familiar design, while the XEV 9e features a bold, striking look. They cater to different preferences: the Harrier EV for subtle elegance and the XEV 9e for expressive ruggedness.

More Impact Shorts

Top Stories

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Who is CP Radhakrishnan, India's next vice-president?

Who is CP Radhakrishnan, India's next vice-president?

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Who is CP Radhakrishnan, India's next vice-president?

Who is CP Radhakrishnan, India's next vice-president?

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV