15 Apr 2016
Grofers International Pte. Ltd. Series D Fundraising
Evelyn Wee and Gwendolyn Tan from the Capital Markets / Mergers & Acquisitions Practice Group were the Singapore legal advisers to Grofers International Pte. Ltd. ("Grofers") in relation to the subscription by Softbank Group International Limited, Internet Fund III Pte. Ltd., Sequoia Capital India Investments IV, Apoletto Asia Ltd and Mr Rahul Mehta for Series D Redeemable Preference Shares in the capital of Grofers, amounting to an aggregate investment of approximately US$120 million.
Internet Fund III Pte. Ltd., Sequoia Capital India Investments IV and Apoletto Asia Ltd had, in an earlier fundraising exercised, invested an aggregate of US$36.5 million for Series A Redeemable Preferences Shares, Series B Redeemable Preference Shares and/or Series C Redeemable Preference Shares in the capital of Grofers.
Grofers is the holding company of Grofers India Private Limited, which operates an e-commerce platform that provides delivery services for groceries and other products to consumers in India.