SoftBank Vision Fund leads over $200m funding in Indian online grocer Grofers

Photo by Fikri Rasyid on Unsplash

Masayoshi Son isn’t losing his appetite for backing money-losing startups.

Son’s SoftBank Vision Fund is leading an investment round of more than $200 million in Grofers, the Indian online grocery startup said in a statement. Tiger Global and Sequoia Capital and new investor KTB joined SoftBank in the deal, which pushes the company’s valuation to almost $1 billion even as it competes against powerful rivals: Walmart Inc.-controlled Flipkart, Inc. and BigBasket, backed by Chinese e-commerce giant Alibaba Group Holding Ltd.

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