The Indian Wire » Startups » Grofers bags ₹97.59 cr from its Singapore entity, Abu-Dhabi’s Capital Investment LLC
Startups

Grofers bags ₹97.59 cr from its Singapore entity, Abu-Dhabi’s Capital Investment LLC

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Grofers, an online and offline grocery delivery startup, based out of Gurugram, has raised worth ₹97.58 crore from its Singapore-based entity, Grofers International.

The investment will enable Grofers International to have 812 equity shares in the grocery delivery startup.

While, according to the sources, the company has also raised an additional $10 million in its ongoing Series F round from an Abu-Dhabi-based entity Capital Investment LLC.

Founded in 2013 by Albinder Dhindsa and Saurabh Kumar, Grofers offers products across categories such as grocery, fruits and vegetables. It operates in 13 cities.

Recently in May, Grofers has raised $200 million Series F funding led by SoftBank Vision Fund.

Earlier, Grofers had said that the fresh funds will help the company to expand into new markets, build out its supply chain, warehousing infrastructure and private label product offerings, ensuring a steadily increasing range of products for customers.

Grofers closed FY 2018 with $129.49 Mn (INR 950 Cr) in sales. It is now chasing a revenue target of $34 Mn (INR 2,500 Cr) and plans to roll out more than 500 stock keeping units (SKUs) for FY 2019.

In January, Grofers claimed it recorded revenue of ₹310 crore and crossed ₹300 crore in monthly sales. It further claimed that 250,000 new customers on the platform in January.

Some of the significant online grocery startups in India includes BigBasketPepperfryZop NowAmazon NowGodrej nature’s basket, etc.

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