Grofers raises funds from Venture Capitalists from Sequoia Capital and Tiger Global. Grofers is a company where it helps local vendors or brick and mortar stores to get into online shopping boom in India.
Grofers is owned by Locodel Solutions Pvt Ltd, is a Gurgaon based company. The company was started in 2013 by Albinder Dhindsa and Saurabh Kumar. Grofers grows new business model, where in Grofers help local shops by providing them mobile platform for their inventory and also facilitating on demand delivery within 90 minutes. Many of the local shops have sold their products through online before. Grofers will send their team to take photo and upload them on their platform. The entire process will take a minimum of 3 to 4 days depending on the size of the store.
The company has tie up with 250 vendors and has a total of 500, 000 individual items available for order. They process 30,000 deliveries per month out of which fifth of those orders placed through their mobile app.
Albinder Dhindsa is talented and technical qualified professional. He did his graduation in Bachelor of Technology from Indian Institute of Technology, Delhi and did Masters of Business Administration from Columbia Business School, Columbia University.
He started his career as Transportation Analyst in URS Corporation in Dec 2005 continued till June 2007. Albinder joined Cambridge Systematics as a Senior Associate in 2007. He worked in the company for 3 years, later on moved to UBS Investment Bank in New York as an Associate. He had short stint and moved as Head of International Operations, Zomato in December 2011 based out of New Delhi.
Albinder has published several articles on transport in the US on Crash Risk Mitigation on Freeways under congested regime. Variable speed limited and Ramp Metering for improving safety on congested Freeways are few to be mentioned.
On the other hand Saurabh Kumar co founder of Grofers.com. He has graduated in Bachelor of Technology in Civil Engineering from Indian Institute of Technology, Bombay in 2006. He went on to do his Masters in Science in Transportation Engineering from University of Texas.
He was summer intern in Beca for 3 months and became graduate research assistant in University of Texas till Feb 2008. Saurabh joined Cambridge Systematics as Senior Analyst worked there for almost 3 years. In November 2010, he joined as Associate in Opera Solutions. Prior founding Grofers, he was Chief Operating Officers in Rasilant Technologies Pvt Ltd till October 2013.
The company has received funding in two tranches. Grofers received $500k as seed capital from Sequoia Capital on December 8, 2014. Within two months they received Series ‘A’ funding of $10 million from Tiger Global Management and Sequoia Capital. A total of $10.5 million capital has been raised by Grofers.
Grofers plans to expand their operations in Bangalore in next few months and plans to expand in other major cities in phased manner.