Private Equity Other Private Equity/Strategic Investments
Zomato plans Rs.3,500-Cr investment in online grocery Grofers
Source Mint (opens in a new tab)
Zomato, the food delivery platform that went public last week, will lead a INR 3,500 crore (USD 470 million) investment in online grocery Grofers, which turned unicorn recently. Several global investors will join Zomato in investing in Grofers.
Zomato invested USD 100 million in Grofers about a month ago for a 9.3% stake, valuing the online grocer at more than USD 1 billion. Japanese billionaire Masayoshi Son's SoftBank and New York-based Tiger Global hold 51% and 19.2%, respectively, in the startup.