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Grofers secured $5.8 mn from Singapore parent

Grofers India, the Gurgaon based company that owns and operates an online grocery marketplace, has now secured $5.8 million from its Singapore based parent company Grofers International.

The startup as of now, issued 330 equity shares, each at a rate of INR 1305293, which makes the total value of the investment to around INR 43.07 crore or $5.5 million, said the announcement.

Grofers India endured heavy cash burns, according to its profit and loss statement for the financial year ended in March 2019.

Grofers had last secured $20 million from the Mumbai headquartered media Bennett Coleman & Co, via a warrant issue in the month of November. Around the same time, it secured $44.8 million from its parent company. In July, it reportedly got a top-up of $10 million from the Abu Dhabi Capital Group. In the month of May, it secured around $200 million in funding, round led by the returning investor SoftBank Group.

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