HomeGrofers raises another...

Grofers raises another tranche of ₹70 crores from Abu Dhabi’s Capital Investments


Gurugram-based online grocery delivery startup Grofers has raised an additional ₹70 crores in the existing funding round from Abu Dhabi-based Capital Investment, an investment entity by Abu Dhabi Investment Group. The Softbank-backed firm issued 1.9 lakh series F shares at the same valuation as previous investments i.e ₹3,479 crores.

The tranche is a part of ₹1,400 crores Series F round that the startup announced in May this year out of which only ₹910 crores have been raised through its Singapore-based holding company. This fresh investment is preceded by Softbank’s ₹420 crores investment in the firm in February this year.

Grofers will deploy the funds for expansion and market penetration. The startup initiated its operations with a grocery retailing model and gradually shifted to a pure-play private label business model. The new model is in line to keep up with its competitors like BigBasket which provides on-demand deliveries.

Grofers has tied up with several Kirana stores to turn them into Grofers’ Branded Stores. The startup also sells in categories like kitchen utensils and cosmetics besides groceries and FMCG products. The startup reported total revenue of ₹53.4 crores in FY18

Continue reading

How to Read NFL Odds

A game in the NFL has two possible outcomes. The first result has been posted on the scoreboard: which team has triumphed and which side has suffered a loss? The second tally is done by bettors: whether the team...

How to Bet on the NFL

Football is one of the most popular sports in North America, and its popularity, particularly in the NFL, is at an all-time high. People all over the world analyze data, matchups, NFL stats, and patterns to obtain an advantage...

First Person Live Gaming – The Evolution of Real-Time Gambling in India

Indian players have been enjoying the benefits of playing live dealer games for many years now. Every player that has experienced this revolutionary innovation in online gambling would testify that it is beautiful. Nothing beats getting to enjoy a...

Submit details about your funding and get published for FREE

Get an online story about your startup and reach millions of readers