Grofers is also seeing increased interest from global investors amid soaring demand for online deliveries.(MINT)
Zomato Ltd is set to double down on the online grocery market. The food delivery platform, which went public last week, will lead a ?3,500 crore ($470 million) investment in Grofers, which turned unicorn recently, two people directly aware of the development said.
Several global investors will join Zomato in investing in Grofers, the people said, requesting anonymity. Zomato invested $100 million in Grofers about a month ago for a 9.3% stake, valuing the online grocer at more than $1 billion.