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Vegolution enters Hyderabad market with Hello Tempayy - The Hindu BusinessLine

Vegolution enters Hyderabad market with Hello Tempayy - The Hindu BusinessLine
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

Zomato to acquire 9 3 percent stake in Grofers, after $120 million investment

Zomato to acquire 9 3 percent stake in Grofers, after $120 million investment
techstory.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techstory.in Daily Mail and Mail on Sunday newspapers.

Zomato invests $120 million in Grofers, gets entry in India s Unicorn Club

After raising $120 million from Zomato, Grofers has become India’s latest unicorn startup. The deal has been officially finalized, and Grofers is now worth more than a billion dollars, making Gurugram-based online grocery delivery startup 16th unicorn of India in 2021. The deal is expected to be approved by the CCI soon. Following its IPO, which is expected in a few months, Zomato may consider acquiring Grofers. Image Source: The Economic Times Zomato’s investment in Grofers will benefit the food giant in re-entering the online grocery market. Soon after the COVID-19 pandemic hit India in March 2020, the company explored grocery delivery briefly by working with fast-moving consumer goods companies and e-grocers like BigBasket and Grofers. Around the same time, it started looking into buying Grofers in an all-stock deal. However, five months after launching its grocery service, Zomato dropped out, arguing that it was not their core business.

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