SoftBank may invest $100 mn in e-grocer Grofers to take on BigBasket

Grofers has managed to survive the churn in the sector that started in 2015, leading to the closure of companies such as PepperTap and AskMeBazaar, among others

SoftBank is planning to invest $100 million in e-grocery major Grofers. The Japanese telecom giant, fast becoming the biggest challenger to Amazon in India, already has investments in the top four unicorns — start-ups valued $1 billion or more — in the country. 

Grofers and SoftBank refused to comment. But, sources close to the development confirmed that negotiations were on to finalise the investment, which would be between $80 million and $100 million. The Gurugram-headquartered start-up is valued at about $400 million.

“SoftBank is keen to invest in the e-grocery space. Grofers has received a nod from the government for