<article>Online grocery firm <a href="http://dealstreetasia.com/tag/grofers" target="_blank" rel="noopener">Grofers</a> is likely to see its existing investor <a href="http://dealstreetasia.com/tag/softbank" target="_blank" rel="noopener">SoftBank</a> double down and lead a new $120-150 million financing round.</article>

Online grocery firm <a href="http://dealstreetasia.com/tag/grofers" target="_blank" rel="noopener">Grofers</a> is likely to see its existing investor <a href="http://dealstreetasia.com/tag/softbank" target="_blank" rel="noopener">SoftBank</a> double down and lead a new $120-150 million financing round.
According to a source-based <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/softbank-may-deliver-fresh-funds-to-grofers/articleshow/66408666.cms" target="_blank" rel="noopener">report</a> in The Economic Times, <a href="http://dealstreetasia.com/tag/vision-fund" target="_blank" rel="noopener">SoftBank Vision Fund</a> will put in around 60-70 per cent of the capital in the new round. German retailer Metro AG is likely to invest another $30 million in the online grocer. Other existing investors, including Tiger Global, Russian billionaire Yuri Milner, and Sequoia Capital, are also likely to participate in the latest round.
The deal, through which SoftBank is estimated to pick up a 40 per cent stake in the startup, is likely to value the Gurgaon-based Grofers at around $500 million (pre-money).
&#8220;SoftBank has decided to double down on its investment in Grofers as talks with Alibaba for a possible merger with BigBasket have not progressed. The round may see the participation of a new financial investor as well in which case the round size may go up to $200 million,&#8221; said one of the sources quoted in the report.
It was recently reported that Grofers had revived talks for a merger with rival BigBasket as their investors Alibaba Group and SoftBank Group were looking to partner to take on Amazon and Walmart Inc.-owned Flipkart for a bigger share in the Indian market. The proposed deal involves BigBasket acquiring its smaller rival.
Earlier this year, the Japanese investment giant put in around $40 million in the last funding round, which saw the valuation of Grofers reportedly declining 20 per cent to $300 million.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-softbank-leads-62m-funding-round-in-online-grocer-grofers-94400/" target="_blank" rel="noopener">SoftBank leads $62m round in Indian online grocer Grofers: Report</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/bigbasket-grofers-merger-106713/" target="_blank" rel="noopener">India: Grocery delivery startups BigBasket, Grofers revive merger talks</a>

SoftBank Vision Fund is expected to lead a new $120-150 million round for Grofers to be joined by German retailer Metro AG.

India: SoftBank said to double down on online grocer Grofers

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India: SoftBank said to double down on online grocer Grofers

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