Zomato: Might Acquire Grofers To Strengthen Its Foot In Grocery Delivery Space

Zomato: Might Acquire Grofers To Strengthen Its Foot In Grocery Delivery Space

• The food delivery unicorn said it would close the deal at around $750M
• The companies had been in talks for nearly a month following a recent collaboration for grocery delivery services
• If the acquisition deal finalizes, then Grofers’ largest shareholder, SoftBank Vision Fund, is likely to invest around $100-200 million
• The most recent funding by SoftBank Vision Fund in Grofers was $70M in last year’s Series F round
• Grofers also claims to offer more than 800 products in various categories
• Recently, it has also extended its reach into the milk business by launching G-Fresh Milk, its milk brand