Grofers | Pixr8 News

27May By AdityaNo Comments

INDIA

JioMart Launched Operation in 200 Indian Cities

Mumbai, May 26, 2020: Reliance online grocery service JioMart launched its delivery services in nearly 200 cities of India. The delivery services of Jiomart was initially launched in Mumbai after receiving big funding from Facebook and four other investors. But as we have checked the website the service is not fully operated, most of the products are out of order. JioMart will use Facebook-owned Whatsapp to make the online retail experience accessible to many more Indians and towns for daily needs order. "Never waste a crisis, they say!" tweeted Damodar Mall, chief executive of grocery retail at the company. "A wise colleague mentioned today, 'Alibaba also flourished starting from the SARS crisis,'" he added. Now JioMart is the only active delivery service in Indian small c...

17Mar By AdityaNo Comments

INDIA

Indian Online Grocery Platforms Order Surges Amid Coronavirus Threat

Indian online grocery platforms Grofers and BigBasket are witnessing up to two-fold growth in purchases as authorities in multiple cities close malls and shopping places to contain the coronavirus pandemic. The e-tailers said they are shoring up supplies amid the sudden increase in demand due to panic buying across a number of cities in the last couple of days. These companies are witnessing very high demand for products in the personal hygiene category as well as immunity boosting items such as honey and ayurvedic products. "In the last couple of days we have seen what we may call panic buying across a number of cities and categories. Cities like Mumbai, Bangalore, Pune and Ahmedabad have seen a higher surge with nearly 80 per cent growth followed by Delhi NCR and Hyderabad at a ...

Grofers Convert 200 stores into its branded outlets

1Jul By AnkitaNo Comments

News

Grofers Convert 200 stores into its branded outlets

NEW DELHI: Online grocery platform Grofers is working on converting about 200 brick-and-mortar stores into its own branded outlets over the next few months as it looks to expand its business and push its private label of products. The SoftBank-backed company has been working on the business model for the past few months and has already converted about 100 such 'kirana' outlets. "We have converted several grocery stores into our own branded offline stores, around 100 kirana stores in Delhi-NCR have been a part of this effort that started somewhere in November last year. Our target is to have 200 such stores in the coming few months," Grofers Vice-President and Head (Offline Business) Yeshu Bansal told Pixr8 News. Grofers is also keen on expanding this network to southern markets su...

Softbank Backed Online Grocery Platform Grofers Eyes Rs 200cr GMV in Sales

20Jan By AnkitaNo Comments

News

Softbank Backed Online Grocery Platform Grofers Eyes Rs 200cr GMV in Sales

SoftBank-backed Indian based online grocery platform Grofers aims to clock gross merchandise value (GMV) of over Rs 200 crore during its ongoing Grand Orange Bag Days (GOBD) sale. The company, which is running GOBD from January 19-27, said it has already crossed GMV of Rs 60 crore on the first day of the sale. GMV is a term used in online retailing to indicate the gross merchandise value of the products sold through the platform over a certain period of time. "We will exceed Rs 200 crore in GMV during the GOBD. On day 1, our GMV was Rs 60 crore with 76 lakh units being sold," Grofers co-founder and CEO Albinder Dhindsa said. He added that the company has unveiled a new cashback scheme during the sale called 'Orange Cash'. "We wanted to reward consumers and drive repeat behav...

Grocery Delivery Major Grofers Aims to Amass $2.5 billion in Revenue by 2020

26Dec By Gauri SinghNo Comments

BUSINESS

Grocery Delivery Major Grofers Aims to Amass $2.5 billion in Revenue by 2020

The grocery delivery platform Grofers aims to garner $2.5 billion (around Rs 17,500 crore) in revenue by 2020 as it scales up its private label offerings in the country and focusses on expanding repeat purchases in its platform. The company, which has recently completed five years of its operations, has a revenue run rate of $360 million (about Rs 2,500 crore) currently. Grofers co-founder and CEO Albinder Dhindsa said Grofers has been witnessing over 30% month-on-month growth. "While we do not sell gourmet products that usually offer higher margins, we have been able to create a set of dedicated customers that usually promote our brand as well... We will continue to ramp up our business and we aim to clock $2.5 billion revenue by 2020," he said.&nb...

Amazon’s India Re-brands Grocery Service to ‘Prime Now’

30May By Lavina TolaniNo Comments

News

Amazon’s India Re-brands Grocery Service to ‘Prime Now’

While yesterday we reported Flipkart foraying into grocery market to rival BigBasket and Grofers, another news today has surfaced that E-commerce giant Amazon is aggressively ramping up selection for grocery on its platform and focussing on speedier delivery to capture its hold in the grocery venture. The grocery wing of the online e-tailer has been rebranded Prime Now, with the company offering a two-hour express delivery option to members of its Prime subscription service. Amazon's announcement has come in the wake of Flipkart also strengthening its plans to enter grocery segment. The Amazon Now Service will be called as "Prime Now" and will have investments in the chill chain for products like fresh fruits, vegetables and dairy. The service limited as an app-only-service as of ...

Grofers Raises 400 Crore from Softbank & Others

16Mar By NitishNo Comments

FUNDING

Grofers Raises 400 Crore from Softbank & Others

Gurgaon based online hyperlocal market startup Grofers raises 400 crore funding from Japanese conglomerate SoftBank Group, Tiger Global, and Apoletto Asia. The Grofers has raised so far $226.5 million funding. However the early investor in Grofers, Sequoia Capital will not participate in this round. Pixr8 news was the first platform which discloses about this deal earlier. Using Series E round funding, the company will continue 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 existing Grofers cities. "This fresh round by our existing investors is a vote of confidence and trust in the turnaround at ...

23Feb By NitishNo Comments

FUNDING

Grofers Looking to Raise $65 Million Fresh Funding But….

Bengaluru- Guragon based online grocery start-up Grofers is looking to raise $65 Million fresh funding from leading investors like Softbank & Tiger global. But the funding round will devalued 40% of Grofers valuation as per the report published by LiveMint. However the early investor in Grofers, Sequoia Capital will not participate in this round. The online grocery platform looking for much needed funding to operate their services. The leading competitor in the space bigbasket has already raised $300 million from Alibaba. Also the big daddy in Indian e-commerce space Flipkart & Amazon aggressively expanding their footprints into the Hyper-local space. As of 2016, the company has raised about Rs. 235.5 million funding from investors including SoftBank and Sequoia Capital. I...

BigBasket and Grofers are in Talks For Possible Merger

19Apr By AnkitaNo Comments

ACQUISITION

BigBasket and Grofers are in Talks For Possible Merger

India's online grocery delivery service BigBasket and smaller rival Grofers India Pvt. Ltd. have begun talks on a possible merger, Indian newspaper Mint reported on Wednesday, citing sources. If the merger goes through, SoftBank Group (9984.T), which is an existing investor in Grofers', will participate in a $60 million to $100 million funding round in the merged company, the report added. The talks, which are in early stages, may value BigBasket at about $700 million to $800 million, while Grofers could be valued at $150 million to $200 million, Mint added. Online grocery sales are a fast growing segment in India's e-commerce industry as more consumers log in to internet for their purchases.

Amazon, Grofers, Big Basket May Invest $695 Million in Food Retail

26Mar By AdityaNo Comments

News

Amazon, Grofers, Big Basket May Invest $695 Million in Food Retail

The government has received investment proposals from three companies, including Amazon and Grofers, worth USD 695 million for retail of food products in India under the new FDI policy. "Three companies Super Market Groceries Supplies (Big Basket), Grofers India and Amazon Corporate Holdings have submitted their proposals for seeking permission to make investment of USD 695 million over a period of time," an official statement said today. The government had last year allowed 100 per cent FDI for marketing, including through e-commerce, of food products manufactured and produced in India. Earlier in the day, Food Processing Minister Harsimrat Kaur Badal announced that Amazon has decided to invest about USD 500 million in e-retail of food. "We allowed 100 per cent FDI in trading ...

Grofers and Sodexo Partner to Delight Customers

15Mar By NitishNo Comments

BUSINESS

Grofers and Sodexo Partner to Delight Customers

Grofers, the on-demand e-commerce mobile and web application, is now enabling payment via meal vouchers by partnering with Sodexo. Grofers customers will now be able to pay for their groceries, fruits, vegetables and bakery items through Sodexo meal vouchers, in addition to the multiple payment options that presently exist on the app and website. In the first phase of this partnership, Sodexo vouchers can be used across all the 12 leading cities where Grofers super store is available. These cities are Delhi, Gurgaon, Noida, Mumbai, Bangalore, Ahmedabad, Kolkata, Pune, Chennai, Lucknow, Jaipur and Hyderabad. Already a highly convenient way to buy groceries, Grofers believes that this partnership would help the e-grocer grow further. Albinder Dhindsa, Co-founder at Grofers, said, "Sode...

SoftBank’s Profit Drops, But India Investments Show Traction

11May By Press Trust of IndiaNo Comments

BUSINESS

SoftBank’s Profit Drops, But India Investments Show Traction

Japanese telecom giant SoftBank today said its investee companies in India - Snapdeal, Oyo Rooms, Ola and Hike - saw good traction even though its own profits dropped 27 percent for the fiscal ended March. SoftBank's sales for 2015-16 totalled 9.15 trillion yen ($84 billion), up nearly 8 percent from the previous financial year. Chief Executive Masayoshi Son said the Indian companies in which SoftBank has invested are growing, which include games, online messenger, and retail businesses. According to the investor presentation, e-commerce major Snapdeal saw the value of merchandise (GMV) sold through its platform rise 90 per cent in 2015-16 over the previous fiscal. "Repeat purchase rates increasing...Investing in supply chain technology... (Freecharge is) the fastest-growing di...