Grofers intends to utilise funds to further strengthen the technology platform while expanding its presence to more cities.
Grofers, the express delivery marketplace headquartered in Gurgaon, has raised a $10 million Series A funding round from existing investor Sequoia Capital and new investor Tiger Global.
The company, which started out of Gurgaon in December 2013, provides users of its mobile app access to inventory of local stores and delivers to the users within 90 minutes of them placing an order. Grofers has so far partnered with over 250 merchants across Delhi and Mumbai. The company intends to expand the service to all metros in the country with Bangalore being the next market.
Albinder Dhindsa, Co-founder of Grofers, said, “We have had a great response to our mobile app and a lot of people are using our 90 minute delivery service to get their daily needs delivered. We have been very successful in bringing brick and mortar retail online by combining our technology and logistics platforms.”
The one year old company now processes over 30,000 deliveries every month, with over 6,000 orders coming over the mobile application.
Tiger Global has also joined the funding round, “We have been impressed with the execution of the Grofers team and their ability to scale their 90 minute local delivery service so seamlessly. The company is well positioned to help local businesses benefit from the rapid adoption of smartphones and the emergence of the on-demand economy in India. ”, said Lee Fixel, Partner at Tiger Global.
Abheek Anand, Principal at Sequoia Capital India Advisors, which had earlier invested in the company at seed stage, said, “Over the last year, we have seen Albinder and Saurabh build and scale the company rapidly to multiple cities and categories. This is a pain point that consumers face multiple times a week, and by solving it the company is well on it’s way to capturing the massive opportunity in front of it.”
Grofers intends to utilize this round of funding to further strengthen the technology platform while expanding its presence to more cities. The company employs over 200 delivery staff who ensure that customers get their products within 90 minutes of ordering online.
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