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Grofers` Growing Ambition in Online Grocery Market in India |
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INTRODUCTION |
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On June 13, 2019, Grofers, an online grocery delivery service in India, raised US$ 220 million from Japan’s SoftBank Corporation (SoftBank). With this funding, Grofers was expected to increase its market valuation from US$310 in 2018 to US$ 800 million in 2019, and was set to attain the status of India’s next Unicorn.
Grofers launched its operations in 2014 (launched as “Onenumber” in 2013 and the name was changed to Grofers in December 2013) in the hyperlocal marketplace in Delhi (NCR), India. It created its mobile application the same year. Grofers tied up with Kiranawalas or retailers for the delivery of groceries at customers’ doorsteps. The unique selling proposition (USP) of the company was its 90-minute delivery, which separated it from competitors like Grocshop, PepperTap, LocalBanya, and more in 2014. During 2014-2015, Grofers expanded its business to 26 cities in India.
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PayPal (7 USD)
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