Leading Grocery Delivery platform, Grofers, has raised $220 million funding- the highest ever raised in India’s online grocery delivery industry. SoftBank Vision Fund, Tiger Global, Sequoia Capital and KTB Ventures participated in this Series F round of funding. Grofers stated that the company will use the money from this round to expand its supply chain operations. Apparently, the e-tailer claims to crack about 60,000 orders in a day, with an average order value of Rs.1,450.
This announcement comes soon after Grofers’ competitor, BigBasket raised $150 million in Fresh Funding. Amazon and Flipkart are also competing in this race and expanding their grocery segment. Albinder Dhindsa, Chief Executive of Grofers said , ‘We are clear about our target audience. It is going to be middle India that goes after planned purchases and low-priced offerings.’
Source: Deal Street Asia