Welcome Guest

Businessex.Com
Home News Mobile commerce startup Grofers to raise $35M from Tiger Global and Sequoia Capital

Mobile commerce startup Grofers to raise $35M from Tiger Global and Sequoia Capital

Tags: Grofers, Tiger Global, Sequoia Capital, Groceries, small businesses, baby care products

April 16, 2015 | COMMENTS ( 0 )

Mobile commerce startup Grofers to raise $35M from Tiger Global and Sequoia Capital

Mobile commerce startup Grofers has announced that it will raise $35 million from existing 
investors Tiger Global and Sequoia Capital for further expansion.

Earlier Tiger Global Management and Sequoia Capital invested $10 million funding to Grofers.Grofers will use the new funds to expand the selection of products that consumers can purchase from the Grofers Android and iOS mobile apps.

Grofers was founded in 2013 by Saurabh Kumar and Albinder Dhindsa. It is a delivery service that allows consumers to order products online and receive them within 90 minutes. Consumers can buy products available at brick and mortar stores in their city through the Grofers mobile app (grofers.com/mobile). The mobile app lists products across grocery, bakeries, fresh produce and pet supplies currently. The service is available in Bengaluru, Delhi NCR and Mumbai.

Albinder Dhindsa, Co-founder and CEO, Grofers, said, “We have been busy expanding our business geographically and are experiencing really high growth. The additional infusion of funds will allow us to penetrate deeper into Groceries and add new consumables categories as well. We will continue to invest in expansion to new cities with this round of funding.”

Lee Fixel, Partner, Tiger Global, said, “Grofers offers a unique, local logistics service that benefits small businesses and their customers, and we're excited to support the company's rapid growth going forward as well.”

Abheek Anand, Principal, Sequoia, commented, “We are happy to support Grofers as they build the next generation mobile e-commerce platform. By introducing new categories and cities, Grofers will continue to lead the market and allow the Indian consumer to access an unprecedented level of selection and convenience in their online shopping experience.”

Grofers has partnered with more than 400 merchants in Bengaluru, Delhi NCR and Mumbai so far. The number of orders through the applications has tripled over the last month and the company expecting to do more than 20,000 orders in April. The on- demand service now provides customers the ability to buy products ranging from grocery to pet supplies and baby care products and receive them within 90 minutes. Grofers recently started operations in Bengaluru and will be available to users in Hyderabad and Pune by middle of May.

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....