Zomato said to lead $470m investment in grocery delivery unicorn Grofers
Visual from www.groupon.co.in
July 27, 2021
Zomato Ltd is set to double down on the online grocery market. The food delivery platform, which went public last week, will lead a ₹3,500 crore ($470 million) investment in Grofers, which turned unicorn recently, two people directly aware of the development said.
Several global investors will join Zomato in investing in Grofers, the people said, requesting anonymity. Zomato invested $100 million in Grofers about a month ago for a 9.3% stake, valuing the online grocer at more than $1 billion.
“There are new private equity investors who are banking on the growth story of the online grocery delivery business. Alongside, Zomato is keen to strengthen its network in the grocery delivery space for which Grofers can play a vital role,” one of the two people said.
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