grofers

Abu Dhabi Capital Group (ADCG) has invested $10 million in online grocery startup grofers, joining the likes of SoftBank’s Vision Fund, according to regulatory documents sourced from Paper.vc.

grofers, on-demand e-commerce player, has enabled payment via meal vouchers by partnering with Sodexo.

The Competition Commission has approved online food delivery platform Zomato's proposed purchase of 9.3 per cent stake in online grocery shopping player grofers India.

grofers, the on-demand e-commerce mobile application, has partnered with the toy shop, Hamleys. Through this partnership, online shoppers will be getting toys on-demand and delivered to his/her doorstep.

grofers co-founder Saurabh Kumar has decided to leave the company but will continue to remain a board member and shareholder in the online grocery delivery platform, according to CEO Albinder Dhindsa.

New Delhi, Jul 26 () Online grocery firm grofers today said it has received government nod for retailing food products in India and will invest USD 40 million to expand operations in the country.

Online grocers BigBasket and grofers have held merger talks, though these discussions are preliminary and have moved slowly so far. If the deal goes through, it will be one of the most significant moves made towards bringing about consolidation in a cash-guzzling consumer internet economy.

Grocery delivery startup, grofers has rebranded itself as Blinkit, as it joins the race for supremacy in India’s fast-growing quick commerce business. Zomato-backed Grofer’s move comes close on the heels of food delivery giant Swiggy committing $700 million to its quick commerce arm, Instamart.

After raising this capital, grofers is said to be valued at $425 million. This comes at a time when online grocery is seeing heightened action from vertical as well as horizontal players. Amazon and Flipkart are continuing to invest in their grocery business, while others like BigBasket are also in the middle of advanced discussions to raise new capital.

Online grocer grofers is closing a $280-million (nearly Rs 1,970-crore) funding that would see its valuation rising to around $700 million. SoftBank’s Vision Fund is leading the investment in the sixyear-old startup that competes with Alibaba-backed Bigbasket and horizontal players like Amazon India and Flipkart.

New Delhi, May 15 () Online grocery retailer grofers Wednesday said it has raised over USD 200 million (over Rs 1,400 crore) in funding, led by SoftBank Vision Fund. The series F funding saw participation from new investor, KTB, and existing investors, Tiger Global Management and Sequoia Capital.

Customers, while ordering groceries, can place a request for delivery of cash via a special code.

The company, which has recently completed five years of its operations, has a revenue run rate of $360 million (about Rs 2,500 crore) currently. grofers co-founder and CEO Albinder Dhindsa said grofers has been witnessing over 30 per cent month-on-month growth.

New Delhi, Sep 10 () Online grocery firm grofers said Monday it is partnering with local entrepreneurs to help with last mile delivery, a model that it expects will be used to deliver half of its overall order volumes.

While the discussions with Tencent are early, SoftBank is likely to bulk up its shareholding in grofers, valuing the company at 20-30% lower than the $400-million valuation it fetched in 2015.

Hyper-local delivery startup grofers has bought out My Green Box, a smartphone-based grocery delivery platform, at a time when e-commerce biggies are stepping aggressively into this red-hot space.

New Delhi, Oct 5 () Online grocery platform grofers Friday said it is scaling up its 'group buying programme' (GBP) pan-India and expects the initiative to contribute 25-30 per cent of its revenue this fiscal.

Dhindsa is optimistic about the business model, pointing out that grofers’ average order size has increased to above Rs1,000 from about Rs600 six months ago.

Amazon's preliminary discussions with grofers for an equity funding come on the back of Alibaba closing in on a $200-million investment in BigBasket.

Online grocery retailers like Bigbasket and grofers saw a spike of 80-100% in orders over the weekend as customers across metros began stocking up staples like flour, rice and pulses besides disinfectants, hand sanitisers, diapers, and personal care items, top executives at these companies said.

grofers on Monday said it will offer a 33 per cent hike in salary to its tech team effective July, along with a "hefty ESOP allocation" as the online grocery delivery platform looks to retain staff and woo more tech talent.

New Delhi, Jan 20 () SoftBank-backed grofers aims to clock gross merchandise value (GMV) of over Rs 200 crore during its ongoing Grand Orange Bag Days (GOBD) sale. The company, which is running GOBD from January 19-27, said it has already crossed GMV of Rs 60 crore on the first day of the sale.

New Delhi, Dec 25 () SoftBank-backed grofers aims to garner USD 2.5 billion (around 17,500 crore) in revenue by 2020 as it scales up its private label offerings in the country and focusses on expanding repeat purchases in its platform.

In a email to its employees, grofers said it will be laying off few people in every department but the support & content department will be the worst impacted. The laid off employees will be receiving a months' pay as severance. grofers currently has about 2,000 employees.

This is the first financing round for the company after it raised $120 million at the end of 2015.

The company said it aims to upsize the fleet delivery to 50 e-rickshaws on Delhi-NCR roads in the next 3-4 months.

Zomato's board of directors has approved the acquisition of online grocery store Blinkit (formerly grofers) in an all-stock deal at a board meeting, according to a BSE filing.