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Times Group invested $20 Mn Warrant In Grofers

Grofers has been busy raising the fresh funding after the Series F fundraise and has now secured fresh capital from the Coleman and Bennett Private Limited, also known by the name as Times Group.

According to the report revealed, the company on the 23rd of October issued equity shares as well as a warrant to the BCCL. The details showed that BCCL has picked up one equity share worth of INR 13.05 lacs and a warrant worth of INR 142.62 crore.

Moreover, the filings revealed that the Grofers has been receiving the funding from its parent entity over the last few months.

The startup, which is founded by the IIT graduates Saurabh, And Alibinder, Grofers, provides the products across the categories such as the vegetables, groceries, and fruits. It operates in more than 13 cities. The company, as of now, has plans to expand its catalog to 1500 products from the current 1200 products by the end of 2020.

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