Zomato is in talks to invest around $100 Mn in e-grocer Grofers, two people in the know told ET, after discussions of a possible merger between the two fell through last year at the onset of the Covid-19 pandemic.
Zomato’s investment is likely part of a larger financing round and may value the Gurugram-based online grocery firm at around $1 Bn, sources said. This time the talks have centred around a capital infusion, unlike last year when Zomato would have likely acquired Grofers in an all-stock deal.
Grofers said in an emailed response to ET, “We are in regular touch with the investor ecosystem and are seeing a lot of inbound interest given grocery is an essential need and a high growth segment. Given the dynamic business environment, there will always be room for speculation, but our team is focused on serving more families.”