Grofers

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Grofers India Pvt Ltd
Grofers logo.svg
Type of businessPrivate
Type of site
Online shopping
FoundedDecember 2013; 7 years ago (December 2013)
HeadquartersGurgaon, India (operational headquarters)
Singapore (legal domicile)[1]
Area servedIndia
OwnerZomato (9.3%)
Founder(s)Saurabh Kumar
Albinder Dhindsa
Key peopleAlbinder Dhindsa (CEO)
Saurabh Kumar (COO)
IndustryE-commerce
ServicesOnline grocer
Revenue$34 M (2019)
Employees2000+ (2021) [2]
ParentGrofers International Pvt Ltd
URLgrofers.com
RegistrationRequired
Current statusOnline

Grofers is an Indian online grocery delivery service.[3] It was founded in December 2013 and is based out of Gurgaon.[4][5] As of 2018, the company has raised about $535.5 million from investors including SoftBank, Tiger Global and Sequoia Capital.[6][7][8]

The name Grofers is a portmanteau of "grocery gophers".[9] Customers of the company use a mobile application to order groceries online. Grofers employees then secure the items from their warehouse and deliver the items to the consumer. The delivery may be scheduled for any time of the day.[10] Grofers currently operates in more than 30 cities in India.

During the coronavirus pandemic in 2020, Grofers along with Amazon India and Big Basket were among the few online grocery platforms that continued to operate in India.[11]

Funding rounds[edit]

Source:[12]

Transaction Name Number of Investors Fund Raised
Series A 1 $500K
Series B 2 $10M
Series C 2 $36.5M
Series D 5 $120M
Series E 3 $58.6M
Series F 7 $264M

History[edit]

Albinder Dhindsa and Saurabh Kumar founded Grofers in 2013.[13] Having met each other while working for Cambridge Systematics during the late 2010s, they teamed up to enter the grocery delivery space. Their goal was to solve the problems (both on customer as well as merchant end) associated with the unorganized nature of the sector.[14] Grofers piloted in Delhi NCR before reaching other cities in India. In the early days, Grofers focused primarily on delivering groceries, fresh fruits and vegetables, mobiles and accessories, kitchenware, books, home and office needs, bakery items, pet care, baby care and personal care products, electronics, flowers, etc. The company has now become a platform that brings together the consumers looking for everyday essentials, partners that are serving their needs and manufacturers looking for a conduit to the consumers. All of this happens through their proprietary technology stack.[15]

Acquisition[edit]

In April 2020, there were several news reports on Zomato’s interest in acquiring Grofers.[16] Apparently, talks were held between these Gurugram-based start-ups.[17] On 29 June 2021, Zomato signed a deal with Grofers to invest nearly $120 Million in the company to acquire a 9.3% stake in the online grocery firm.[18]

IPO plans[edit]

Boosted by the business boom during the COVID-19 pandemic in India, reports were making the rounds that Grofers was keen on going public in either 2021 or 2022.[19] The company’s founder Dhindsa added, "our path to profitability has accelerated during the lockdown, and after achieving operational profitability in January, we are on track to become EBITDA and cash positive by the end of this year. We are observing market sentiments and aim to hit the capital market by the end of 2021."[20]

See also[edit]

References[edit]

  1. ^ "Grofers shifts base to Singapore". The Times of India. Retrieved 17 April 2021.
  2. ^ "Grofers profile", Craft, retrieved 13 August 2019
  3. ^ Shrivastava, Aditi; Chanchani, Madhav (13 July 2016). "After a year of rapid growth, Grofers aiming to achieve operational break-even by year end". The Economic Times. Retrieved 29 September 2016.
  4. ^ Sen, Sunmy (23 May 2016). "It's Grofers vs BigBasket in the grocery delivery app war". Hindustan Times. Retrieved 29 September 2016.
  5. ^ "Grofers has had a good run so far, aims at operational break-even by year end". Business Insider. 13 July 2016. Retrieved 29 September 2016.
  6. ^ Shu, Catherine (5 January 2016). "Indian Hyperlocal Delivery Startup Grofers Pulls Out Of 9 Cities". TechCrunch. Retrieved 29 September 2016.
  7. ^ Ganguly, Paloma (26 November 2015). "Delivering groceries, Grofers bags big bucks from SoftBank". Tech in Asia. Retrieved 29 September 2016.
  8. ^ Saligrama, Anirudh (15 August 2016). "How Grofers Is Battling Legal Notice That Was Served By Students". TechStory. Retrieved 29 September 2016.
  9. ^ "Local heroes". The Economist. 14 January 2016. Retrieved 29 September 2016.
  10. ^ "Gone in 90 minutes". mid-day. Retrieved 26 July 2017.
  11. ^ "Grofers, BigBasket, Amazon resume online delivery services in select cities; latest list here". The Week. Retrieved 1 April 2020.
  12. ^ "Grofers | Crunchbase". Crunchbase. Retrieved 31 March 2018.
  13. ^ "Grofers To Raise Over $55 Mn From SoftBank". Inc42. Retrieved 22 April 2021.
  14. ^ Ankita (8 February 2016). "[EXCLUSIVE] "We started with a room and couple of people", Grofers Lets Us In On Its Clockworks". HungryForever Food Blog. Retrieved 6 April 2021.
  15. ^ "Albinder Dhindsa". Yo! Success. 10 July 2015. Retrieved 6 April 2021.
  16. ^ "Grofers Looks At Acquisitions To Carve Out Profitability Ahead Of IPO". Inc42 Media. 15 January 2021. Retrieved 6 April 2021.
  17. ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 6 April 2021.
  18. ^ "Zomato Seeks CCI Approval To Acquire 9.3% Stake In Grofers". Moneycontrol. Retrieved 2 July 2021.
  19. ^ "Grofers advances IPO lisiting target to 2021-end". The Economic Times. Retrieved 6 April 2021.
  20. ^ PYMNTS (11 February 2021). "Indian eSupermarket Grofers Eyes IPO Via SPAC". www.pymnts.com. Retrieved 6 April 2021.

External links[edit]