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Grofers raises $36 million

BS Reporter 

Hyper-local grocery and fresh food delivery platform Grofers has got $36 million in a Series-C round of fundrasing from existing investors Sequoia Capital, Tiger Global and Yuri Milner.

Shardul Amarchand Mangaldas & Co. acted as the legal counsel for Grofers, which has tie-up with local merchants and promises to deliver goods within 90 minutes of placing an order.

In April, the company had raised $35 million from Sequoia and Tiger, which came just two months after its first round from the same investors.

The company had raised around $45 million between February and April this year. Grofers competes with the likes of LocalBanya.com and BigBasket.com in the grocery segment which is fast rising on the e-commerce map.

Grofers has operatuions in large cities including Bangalore, Delhi and Mumbai and is looking at a rapid expansion. Earlier this year, it also acquired MyGreenBox, a smartphone based grocery delivery platform.

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First Published: Fri, July 10 2015. 00:45 IST
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