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 ...