As competition intensifies in Indian online grocery, leading player Grofers has revealed it has received a major cash infusion from tech financier SoftBank Vision Fund. The USD200 million funding means Grofers now has a billion-dollar valuation as it looks to compete against the likes of Amazon, BigBasket and Flipkart – all backed by global tech giants. Grofers has a presence in 13 major Indian cities and has at various times been tipped as a takeover target by rivals.

Source: Deal Street Asia