Grofers to enter unicorn club with $120 Mn infusion from Zomato
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Zomato has finalised an investment of $120 Mn into grocery delivery startup Grofers after talks of a possible merger between the both companies fell through earlier this year. Earlier reports had speculated Zomato’s investment is likely part of a larger financing round and may value the Gurugram-based online grocery firm at around $1 Bn. The proposed funding from Zomato comes shortly after Grofers cofounder Saurabh Kumar exited from the startup.