• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, July 10, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

SoftBank to invest over $55 Million in online grocery delivery platform, Grofers

by Chhavideep Singh
November 17, 2020
in Business, Startups
Reading Time: 2 mins read
0
Grofers Logo
TwitterWhatsappLinkedin
Grofers Logo
Source: Technians

SoftBank Vision Fund (SVF) is one of the largest investors of online grocery delivery start-up, Gofers and is reportedly in the final stages of investing over $55 million in the company.

You might also like

Manipal Hospitals to Acquire Sahyadri Hospitals for ₹6,400 Crore in Major Healthcare Deal

Deepinder Goyal Joins NCR’s Elite with Rs 52.3 Cr Apartment at DLF Camellias

Groww, Zerodha Lose 2 Million Users in 2025: What’s Going On?

The Japan-based multinational conglomerate holds a 46% share in Grofers which makes it the start-up’s largest investor. However, this is not the company’s first investment, last year in 2019, SoftBank led Grofers’ Series F funding round that concluded the company’s worth to be over USD 220 million. Similarly in 2018, Grofers’ Series E funding round worth $53 million was also led by SoftBank Vision Fund.

According to certain reports, Grofers was infused with funds worth USD 43 million (INR 330 Crore approx.) from its Singapore entity, Grofers International back in November 2019.

Reviewing the statistics, till date from the past 12 funding rounds, Grofers has raised a total sum of around USD 610 million.

TOKYO, JAPAN - NOVEMBER 05: SoftBank Group Corp. Chairman and Chief Executive Officer Masayoshi Son speaks during a press conference on November 5, 2018 in Tokyo, Japan. Son voiced concern over the killing of Saudi journalist Jamal Kashoggi at the earnings presentation today. (Photo by Tomohiro Ohsumi/Getty Images)
Source: Fortune

Coming back to the latest funding received by the online grocery delivery platform, its existing investors, KTB Ventures and Tiger Global Management invested a total of USD 30 million in the start-up.

However, as a matter of fact, the valuation of the company did not move a significant number after this year’s funding round when compared to last year’s. Grofers’ valuation remains unchanged between USD 650- 700 million.

Furthermore, as we are all aware of the COVID-19 outbreak and the situation in India, Grofers was in profit as most people were turning their heads towards online grocery delivery services as a precautionary measure to not step out of their houses and expose themselves to the Corona Virus. As claimed by the company, Grofers saw a 40% increase in demand and sales during the nation-wide lockdown in the past few months.

This year, Grofers also witnessed over 60% increase in their Gross Merchandise Value (GMV) compared to last year.

Albinder Dhindsa: Co-founder, Grofers.
Source: Yo!Success

The online grocery delivery platform was founded back in 2013 by IIT graduates Saurabh Kumar and Albinder Dhindsa.

India has faced a lot of challenges in the past few months, people were losing jobs and the economy basically went to the toilet. The post-COVID-19 situation is yet to be witnessed but post-lockdown, the situation is trying to get better, with the government’s support, the economy will probably rise back up again very soon.

Coming back to the online grocery delivery market in India, Grofers has definitely been on the rise during the lockdown period and it continues to be that way but with the speculated entry of high-stake players such as Walmart’s Flipkart, Amazon and Reliance in this sector, the competition is likely to get fierce.

 

 

Tags: fundingGrofersInvestmentSoftbank
Tweet54SendShare15
Previous Post

Retail Technology Start-up, Arzooo raises undisclosed funds from VC Bill Tai and Zoom App’s founder, Eric Yuan

Next Post

Alternative credit platform, BlackSoil raises funds worth INR 110 Crore

Chhavideep Singh

Hi! I'm Chhavideep, If you like reading about technology, business and start-ups, you've come to the right place. Catch me: [email protected]

Recommended For You

Manipal Hospitals to Acquire Sahyadri Hospitals for ₹6,400 Crore in Major Healthcare Deal

by Rounak Majumdar
July 10, 2025
0
Manipal Hospitals to Acquire Sahyadri Hospitals for ₹6,400 Crore in Major Healthcare Deal

Manipal Hospitals, one of India’s largest private healthcare providers, has announced its decision to acquire Pune-based Sahyadri Hospitals for approximately ₹6,400 crore. With this historic agreement, Manipal expands...

Read more

Deepinder Goyal Joins NCR’s Elite with Rs 52.3 Cr Apartment at DLF Camellias

by Ishaan Negi
July 10, 2025
0
Zomato Expands ESOPs, Grants 4.17 Crore Stock Options Worth ₹903.82 Cr

In a move that signals not just success but a clear stamp of entry into India’s ultra-luxury real estate club, Zomato founder and CEO Deepinder Goyal has purchased...

Read more

Groww, Zerodha Lose 2 Million Users in 2025: What’s Going On?

by Ishaan Negi
July 10, 2025
0
Groww, Zerodha Lose 2 Million Users in 2025: What’s Going On?

Even as Indian stock markets soared through the first half of 2025, an unexpected trend emerged: the country’s top four discount brokerages — Groww, Zerodha, Angel One, and...

Read more
Next Post
Ankur Bansal

Alternative credit platform, BlackSoil raises funds worth INR 110 Crore

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?