New Delhi: Online grocery retailer Grofers said it has raised over US$ 200 million (over Rs 1,400 crore) in funding, led by SoftBank Vision Fund. The series F funding saw participation from 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. “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.
The company did not give details about its valuation post this fund raising. However, it has been previously reported that Grofers valuation stood at US$ 600 million. Grofers competes with the likes of BigBasket, grocery verticals of Flipkart and Amazon.in.
