Food delivery and restaurant discovery platform Zomato is in talks to acquire grocery e-tailer Grofers, Entrackr first reported citing people in the know.
The all-stock deal will be worth close to $750 million (about Rs 5,720 crore at current exchange rate), two people in the know told The Economic Times.
Japan’s SoftBank Vision Fund, the largest shareholder in Grofers, may look to invest up to $200 million (about Rs 1,530 crore at current exchange rate) in the merged entity, the persons added.
Zomato and Grofers recently struck a partnership for delivery of grocery through Zomato Market by fulfilling customer orders from offline stores that have an existing tie-up with Grofers.
In the previous quarter, Zomato acquired the Indian operations of Uber Eats in an all-stock deal giving away 9.99% stake.
The food delivery and restaurant discovery platform had also held talks with BigBasket for a merger, said persons in the know.
Alibaba is the lead investor in BigBasket while its associate Ant Financial is the lead investor in Zomato.
Meanwhile, after mobile gaming platform My Game Mate recently received funding from CanQbate50, Donna FMCG Pvt. Ltd has become another startup to raise $200,000 (Rs 1.5 crore at current exchange rate) in seed funding from the incubator, TechCircle reported.
Delhi-based Donna FMCG sells plant-based products for skin and hair under the brand Positive.
“The funds will be used to launch the product in the North American market along with a loyalty programme Positive FAM,” said Tanisha Pant, co-founder of Donna FMCG.