Grocery deliverer Grofers raises $16.7 M more from Korean VC KTB Ventures

Gurgaon-based, Zomato-owned online grocery delivery platform Grofers has raised USD 16.7 million from its existing investor KTB Ventures. Grofers has allotted 247,765 Series G preference shares to Korea-based KTB Ventures at USD 67.48 per share to raise USD 16.7 million. Grofers has raised the fresh tranche at around USD 1.01 billion valuation. Earlier, the Gurugram-based company had raised USD 100 million from Zomato at around USD 1 billion valuation and entered the club of unicorns. Following the fresh allotment of shares, KTB has a 4.4% stake in Grofers. SoftBank remains the largest stakeholder with 46.11% stake followed by Tiger Global which controls 17.07%. Zomato and Sequoia Capital are the third and fourth largest stakeholders in Grofers with 9.3% and 7.8% stake respectively.