Ali Hasan
Grofers is all set for yet another round of funding. The startup is expected to raise another $55-60 million in funding from SoftBank once again. But, if this funding round happens, the stake of SoftBank will increase even further.
It is the largest investor in Grofers and already has a stake that’s around 46% of the entire company. But this isn’t the only funding news of the startup as the other existing investors might also fund them.
Tiger Global Management and KTB Ventures are 2 investors who could invest a combined amount of $30 million. This means that the investors could pump in another $85-90 million into the startup and raise its valuation even further.
This is good news if you consider that Grofers is planning to become profitable in 2021 and have an IPO in 2022.
