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India's Grofers raises $35m Series B from Tiger, Sequoia

  • Holden Mann
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India-based online grocery marketplace Grofers has raised a Series B round of funding worth $35 million from Tiger Global and Sequoia Capital.

The new round comes less than two months after the company's $10 million Series A, also raised from Tiger and Sequoia, and five months after the seed round that attracted commitments from Sequoia and Zomato CEO Deepinder Goyal. VC Circle reported that Grofers' valuation now stands at $110 million.

The company says it will use the funds to add products and expand into new cities. Currently Grofers operates in Bangalore, Delhi and Mumbai, partnering with more than 400 merchants to deliver products from brick and mortar stores. It will begin delivering in Hyderabad and Pune next month.

This investment comes in the same month as Grofers' acquisition of mobile grocery delivery platform My Green Box. The company says it expects monthly orders to continue increasing, with over 20,000 expected by the end of April.

Grofers is only one of many Indian start-ups attracting investment by combining mobile e-commerce and grocery delivery. In addition to Grofers' previous funding rounds, ZopNow raised $10 million earlier this month, and BigBasket received $33 million in 2014.

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