Zomato investing $100 million dollar in Grofers turn it into Unicorn
Zomato investing $100 million in Grofers to take 10% stake in the seven year old startup
Zomato is working to explore public markets this year. Reportedly they had agreed to invest $100 million in the online grocer Grofers for about 10% stake in the seven year old startup.
Zomato and Grofers are close friends for a long time. The idea of this investment was being explored by both the companies. Both the firms are also looking up to the idea of Zomato acquiring majority stake in Grofers in the coming quarters. This idea hasn’t come to a particular decision. The idea will not be further explored until Zomato becomes a publicly traded company.
The investment proposed values Grofers, counts SoftBank as its largest investors of $1 billion. Reportedly the investment of Zomato is a part of a broader round, others including Tiger Global and SoftBank Vision fund 2 expects to chip in some capital. Zomato added no comment to this.