SoftBank Doubles Down on Indian Grocery Venture

softbank_grofers

That’s the headline on my newest story, an exclusive out yesterday. It begins:

NEW DELHI–SoftBank Group Corp. is doubling down on its bet on an Indian grocery-delivery startup, in the global investor’s latest foray in the world’s largest untapped tech market.

Grofers India Pvt. said Wednesday that it received just over $200 million in a funding round led by the Vision Fund, which SoftBank Chief Executive Masayoshi Son is using to invest in cutting-edge technologies. Tiger Global Management and Sequoia Capital, two other prominent tech investors, also participated in the round, said Grofers, which is based in Gurgaon, India.

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Published by Newley

Hi. I'm Newley Purnell. I cover technology and business for The Wall Street Journal, based in New Delhi. I use this site to share my stories and often blog about the books I read, tech trends, sports, travel, and our dog Ginger. Join the growing group of readers who get my weekly email newsletter.

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