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Grofers net loss widens to ₹637 crore in FY 20 - The Hindu BusinessLine

Grofers’ net loss widens to ₹637 crore in FY 20 February 08, 2021 Its 42% high than previous financial year Grofers’ net loss has widened to ₹637 crore in FY 20, which is 42 per cent higher from the previous financial year. The online grocery firm has reported revenues of ₹177 crore, a 111 per cent jump since the last financial year, according to regulatory filings accessed by BusinessLine from Tofler. Grofers’ total expenses rose from ₹518 crore for the previous fiscal to ₹814 crore for FY20. Grofers is an e-grocery platform that has a network of over 12,000 partner stores that enable the company to run a fast and lean supply chain - from manufacturers straight to consumers. “For the FY21 fiscal, the company is bracing for the hit because of the Covid-19 pandemic,” it said.

Indian start-up space to be on fire again this year - The Hindu BusinessLine

January 19, 2021 Will ride on rise in adoption of digitisation, new technologies, say experts Numbed by the pandemic, fund-raising by start-ups fell 35.9 per cent in 2020, but riding on a rise in adoption of digitisation and new technologies, this year is expected to be much better. The industry expects the sector to be on fire again, with a 50 per cent increase in fund raising in 2021 from last year and a 25 per cent rise from 2019. “In 2020, fund-raising happened only during the first three and the last three months of the year. While markets grew due to rising adoption of digitisation, this year, we are expecting a whole lot of Initial Public Offerings (IPOs). Looking at the trend for three years 2017, 2018 and 2019 the rise in funsd-raising was about 25 per cent, and this year, it should be on similar lines,” said Rehan Yar Khan, managing partner at Orios Venture Partners.

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