BENGALURU: Japan's SoftBank Group Corp has led an investment round of more than US$200 million in online grocery startup Grofers India through its Vision Fund, the New Delhi-based company said on Wednesday, upping competition in a hotly chased market in the country.
Grofers' fresh funding comes after homegrown rival Bigbasket, which is backed by China's Alibaba Group, recently raised US$150 million to hit a valuation of over US$1 billion. Both the startups compete with the likes of Amazon.com and Walmart Inc's e-commerce unit Flipkart for various categories.
The Japanese firm is considering an initial public offering of its US$100 billion fund, a source told Reuters earlier this month.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer: