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Grofers raises $35 million; expansion plans in the pipeline

grofers2 (1)

Hyperlocal delivery service provider Grofers has raised funding worth $35 million led by existing investor Tiger Global Management and participation from Sequoia Capital India, reports ET. Following this deal, Grofers is reportedly valued at $115 million. The funds will go towards expansion across categories and geographies.

Albinder Dhindsa, co-founder of Grofers, told TOI that Grofers will be launching services in Hyderabad and Pune. It currently delivers in Mumbai, Delhi and Bangalore. They’re also apparently planning to add pharmaceuticals and electronics in the near future, after the recent introduction of pet food. 

Dhindsa had told ET previously that they were doing 1,000 orders every day in Delhi and Mumbai as compared to 180 in February. Mid-way last year, YourStory reported that Grofers was catering to over 3,000 orders per week.

Raised $10 million 2 months ago

Less than two months ago, Grofers had raised series A funding of $10 million led by Tiger Global Management and returning investor Sequoia Capital. In December last year, the startup had raised an undisclosed amount of seed funding from Sequoia Capital and Zomato founder Deepinder Goyal.

MyGreenBox acquisition

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Earlier this week, the company acquired mobile grocery My Green Box. The details of the deal were not disclosed. A report on TheTechPortal stated that My Green Box’s 15 member team was brought into Grofers and Varun Khurana, founder of My Green Box, will act as the CTO of Grofers. Grofers plans to build depth in their grocery vertical, which it claims where 60% of their business comes from.

Grofers was founded by Albinder Dhindsa and Saurabh Kumar in 2013. The Grofers’ app lets you buy groceries, bakery items, flowers and medicine supplies to have them delivered within 90 minutes in Delhi-NCR, Mumbai and Bangalore, the company claims.

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