|Type of business||Private|
Type of site
|Headquarters||Gurgaon, India (operational headquarters)|
Singapore (legal domicile)
|Founder(s)||Saurabh Kumar |
|Key people||Albinder Dhindsa (CEO)|
Saurabh Kumar (COO)
|Revenue||$34 M (2019)|
|Employees||2000+ (2021) |
|Parent||Grofers International Pvt Ltd|
Grofers is an Indian online grocery delivery service. It was founded in December 2013 and is based out of Gurgaon. As of 2018, the company has raised about $535.5 million from investors including SoftBank, Tiger Global and Sequoia Capital.
The name Grofers is a portmanteau of "grocery gophers". 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. Grofers currently operates in more than 30 cities in India.
|Transaction Name||Number of Investors||Fund Raised|
Albinder Dhindsa and Saurabh Kumar founded Grofers in 2013. 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. 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.
In April 2020, there were several news reports on Zomato’s interest in acquiring Grofers. Apparently, talks were held between these Gurugram-based start-ups. 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.
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. 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."
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