What is Grofers?

Grofers
What is Grofers?
  • Grofers is an online delivery service which connects consumers with local grocery stores.
  • It was founded on 27 December 2013 by two IITians- Albinder Dhindsa and Saurabh Kumar.
  • The company had started as a B2B startup but started offering services to customers in November 2014 becoming a hyperlocal B2C delivery service.
  • The startup was valued at $115 million in April 2015.

Grofer's seed-funding

Fact
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Grofers was seed-funded by Zomato's founder Deepinder Goyal and Sequoia Capital in September 2014 with $0.5 Million.

Grofers buys delivery company My Green Box

10 Apr 2015
Grofers buys delivery company My Green Box
  • Grofers had bought My Green Box, an app based grocery delivery company.
  • Grofers co-founder Saurabh Kumar said that they were building depth in their grocery vertical through this acquisition.
  • He said that grocery vertical was 60% of their overall business and the fastest growing segment.
  • He claimed that they were processing 700 customer orders a day in Delhi NCR and Mumbai.

Grofers operates from Singapore

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On 3 October 2015, Grofers shifted its headquarters to Singapore owing to the low corporate tax of 17%. India's Corporate tax is 30%, which is almost double.

Grocers may raise ₹650 crore from Softbank

7 Oct 2015
Grocers may raise ₹650 crore from Softbank
  • Grofers was in talks with investors including Japan's Softbank about a funding of ₹650 crore.
  • A venture capital investor said that the deal was in the middle of investigation of the business, prior to funding.
  • Grofers had raised $36 million in April this year from venture capital firm Sequoia Capital India, New York-based investment firm Tiger Global Management and Apoletto Asia.

Grofers to buy food ordering app Spoonjoy

24 Oct 2015
Grofers to buy food ordering app Spoonjoy
  • Grofers was planning to sign an acquihire deal with Spoonjoy, a food-ordering app.
  • Spoonjoy was founded in July 2014 by Mahesh Jethani. It was struggling to raise money from new or existing investors.
  • Grofers CEO Dhindsa said they were in talks and would complete transactions in few weeks.
  • Almost 40 people from Spoonjoy were expected to join Grofers in the tech and operations departments.

Grofers acquires startups Townrush, SpoonJoy

27 Oct 2015
Grofers acquires startups Townrush, SpoonJoy
  • Hyperlocal delivery start-up Grofers has bought business-to-business logistics service-provider Townrush.
  • The acquisition was basically a acquihire, where no significant cash or equity was exchanged but the expertise of Townrush staff.
  • Grofers' CEO Albinder Dhindsa said that all they were looking for was the talent of Townrush employees.
  • It also anounced that it has acqui-hired Bangalore-based food-delivery app SpoonJoy and would onboard the entire team.

Grofers goes through 'name' trouble

Fact
Information

Groffr- a group-buying startup, has dragged Grofers India Pvt Ltd, the online grocery retailer to the court for “passing off” and using a similar sounding name to confuse consumers.

Grofers gets $120 million from SoftBank Corp.

26 Nov 2015
Grofers gets $120 million from SoftBank Corp.
  • ​Grofers raised $120 million in a new funding round led by Japan's SoftBank Corp.
  • Its existing investors Tiger Global, Sequoia Capital and Apoletto Managers were also a part of the third round of funding.
  • Sources privy to the deal claim that with the current funding, Grofers has reached $300 million valuation from their valuation of $33 million in February, which is a tenfold jump.