Page 4 - Grofers

Grofers set to convert 200 'kirana' stores into branded grocery outlets

The SoftBank-backed company has been working on the business model for the past few months and has already converted about 100 such 'kirana' outlets

After $220 mn from SoftBank and others, Grofers to raise another $50-70 mn

Money will be utilised to create warehousing and manufacturing infrastructure in partner

Online grocery firm Grofers raises over $200 mn led by Softbank Vision Fund

Last year in March, it had raised $62 million in a round that was also led by SoftBank Group

Grofers raises $200 mn led by SoftBank Vision Fund for market expansion

This represents the largest primary financing round in the online grocery sector in India, Grofers said in a statement

Grofers plans on doubling sales to Rs 5,000 cr by FY20; eyes IPO in 3 yrs

Online supermarket major Grofers India is pursuing profitability by consolidation and focussing on doubling its sales to Rs 5,000 crore by FY'20. The company is also gearing up to hit the capital market with initial public offer (IPO) within the next three years. "We have closed FY'19 with Rs 2,500 crore sales. At present our monthly sales have touched Rs 225 crore, growing at 8.5 per cent month on month. We expect around Rs 5,000 crore sales in the current fiscal," Grofers co-founder & CEO Albinder Dhindsa told PTI. The online player that was last valued at USD 600 million has moved out of hyper-local delivery model 3 years ago. The decision not only aided its survival but also helped it to thrive year after year, Dhindsa indicated. The same strategy helped the company to inch closer to break even in major cities in the northern and eastern parts of the country. Grofers, despite raising USD 60 million recently, remained focussed on consolidating its presence in 12

Banking on Indian mass market, Grofers carves out its own niche

The company is now expected to raise more capital to the tune of $50-$100 million from SoftBank and another investor

Grofers plans expansion, raises $60 million from SoftBank Group

According to sources, the fund infusion is a part of the bigger rou­nd of close to $120 million

SoftBank-backed Grofers' standalone loss narrows to Rs 258.3 cr in FY18

In December, Grofers had said it aims to garner $2.5 billion (around 17,500 crore) in revenue by 2020

SoftBank-backed Grofers aims to garner $2.5 billion in revenue by 2020

Grofers co-founder and CEO Albinder Dhindsa said Grofers has been witnessing over 30% month-on-month growth

Online grocery firm Grofers aims Rs 50 bn revenue by FY20 on private labels

Grofers is investing $30 million on private labels this financial year which will go up to $100 million over the next three years

Grofers plans to increase the private label count to 500 by 2019

The online grocery delivery service provider will rely on smart sourcing and limit stock keeping units as it goes on the offensive with its own-brand range

Retail market is big enough to accommodate multiple players: Grofers

Online grocery portal is keen on developing more inhouse products for wider sale

Preferences vary; consumer needs remain the same, says Albinder Dhindsa

The biggest grocery businesses in the world have managed to deliver savings to their customers, says Albinder Dhindsa, Co-founder & CEO, Grofers

Grofers to focus on hiring, strengthening supply chain from new funds

In November 2015, Grofers had raised $120 million from SoftBank and Russian entrepreneur Yuri Milner, with participation from existing investors Tiger Global and Sequoia Capital

SoftBank may invest $100 mn in e-grocer Grofers to take on BigBasket

Grofers has managed to survive the churn in the sector that started in 2015, leading to the closure of companies such as PepperTap and AskMeBazaar, among others

After Amazon, Grofers gets govt nod to open 'food only' outlets

Govt had, in July, approved Amazon's FDI proposal worth $515 million

Inside Grofers' big mistakes and learnings

Grofers had bitten off much more than it could chew, reports Tech in Asia

Grofers India seeks government approval for FDI in food trading

The company has sought approval 'to undertake trading including through e-commerce in food products manufactured in India'

Grofers makes a move towards retail trading

The company has also been talking to Reliance Fresh and Big Bazaar to be their produce supplier of choice

Graduates quietly go home as Grofers turns them away

Engineering institute professors said in this case, no proper communication was sent, nor any compensation offered