Grofers will use the new funds to expand the selection of products that consumers can purchase from the Grofers Android and iOS mobile apps.
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.
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