Business Standard

Grofers plans expansion, raises $60 million from SoftBank Group

According to sources, the fund infusion is a part of the bigger rou­nd of close to $120 million

Grofers plans to increase the private label count to 500 by 2019
Premium

Karan Choudhury New Delhi
Grocery delivery player Grofers has managed to raise $60 million from the SoftBank Group, according to estimates from business intelligence platform Paper.vc. The company, which has been able to hold its own against players, including BigBasket, Amazon Now, would be using the money for major expansion. According to sources, the fund infusion is a part of the bigger round of close to $120 million.

Last year in March, it had raised $62 million in a round, led by SoftBank Group. The company, last year, utilised the funds for doubling its warehousing space as well as fresh hiring and increasing the number

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 28 2019 | 10:27 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com