Restaurant listings and on-demand food delivery platform Zomato has invested in the Bennett Coleman & Co and SoftBank-backed grocery delivery service at a unicorn valuation.

India-based online grocer Grofers has secured $120m from investors including restaurant review and food delivery app Zomato at a valuation exceeding $1bn, MoneyControl reported yesterday, citing people familiar with the matter.

Hedge fund manager Tiger Global Management filled out the round, having invested a “small amount”, according to the sources. Zomato was reportedly in talks to buy Grofers through an all-share merger in April 2020 that has yet to materialise.

Grofers operates an online marketplace that lists fresh produce…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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