<p><em>This is the third round of funding for Grofers which has already raised over $45 million, writes <strong>Paramita Chatterjee</strong></em><br><br>A clutch of early-stage investment firms -- Sequoia Capital, Tiger Global and Apoletto Asia -- have infused $36 million dollar in Grofers, an online grocery delivery service, founded by Saurabh Kumar and Albinder Dhindsa in Delhi NCR in late 2013.<br><br>Today, in less than two years, Grofers is present in over 10 cities including Ahmedabad, Hyderabad, Jaipur and Pune apart from the metros.<br><br>While an email sent to a Grofers executive did not elicit any response, a person familiar with the transaction said the funds raised will help facilitate the Gurgaon-based start-up’s expansion plans. “Going forward, Grofers plans to expand its operations in other geographies and penetrate deeper in groceries and add new consumables categories,” the person added. Daily grocery, bakery items, flowers, fruits & vegetables, meats and baby care products, are among the products that are currently available on Grofers. It is understood that corporate law firm Shardul Amarchand Mangaldas & Co. acted for Grofers.<br><br>So far, Grofers has partnered with over 400 vendors in Bangalore, Delhi NCR and Mumbaie. This is the third round of funding for the company. The company has already raised over $45 million in two earlier rounds. However, the quantum of stake that the investors picked up could not be ascertained.<br><br>The funding in Grofers highlights how investors are increasingly betting big on Indian entrepreneurs and their winning ideas. Earlier this year, Gurgaon-based ShopClues raised $100 million from Tiger Global, Helion Venture Partners and Nexus Venture Partners, while Rocket Internet AG along with other investors infused $110 million in global food delivery marketplace Foodpanda.<br><br>While start-ups in themselves seem to be the current hot favourites of private equity and venture capital investors, it is the online shopping market space that they are betting big on. "Today, the contours of PE/VC investments in the country have changed in India, with investors eyeing a lot more new age, consumer oriented companies for investments,” said Avnish Bajaj, co-founder and managing director of Matrix India, which recently infused less than $7 million in two starts ups, Treebo Hotels - a new age, tech-enabled chain of hotels -and Bangalore based recruitment startup Belong.</p>
