Home / Companies / News /  Grofers raises $35 million from existing investors

New Delhi: Delivery start-up Grofers, run by Locodel Solutions Pvt. Ltd, is raising $35 million (around 218 crore today) from existing investors, including Tiger Global Management Llc and Sequoia Capital, the company said in a statement.

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

In February, both Tiger and Sequoia had invested $10 million in the company.

“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," said Albinder Dhindsa, co-founder and chief executive of Grofers.

“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," said Lee Fixel, partner at Tiger Global.

Grofers has partnered with more than 400 merchants in Bengaluru, Delhi-NCR and Mumbai.

The company expects to execute 20,000 orders in April. It had recently started operations in Bengaluru and will be available to users in Hyderabad and Pune by mid-May.

Grofers 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 was founded in 2013 by Saurabh Kumar and Dhindsa.

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