Grofers looks to acquire tech products, expand to fresh meat segment

Ahead of its planned initial public offering (IPO) later this year, online grocery platform Grofers is looking to acquire e-commerce products in the tech space.

In this regard, Grofers is evaluating e-commerce-specific technology products to build more efficient supply chains, company  co-founder and company CEO, Albinder Dhindsa said that the aim is to "enhance intangible benefits to customers."

Further commenting on how the company has boosted business, Dhindsa said Grofers added 5,000 stores in 2020 taking the total partners 12,000. It added 10,000 square feet of warehousing space which helped put their express delivery timeline to two hours. It also collaborated with local partners for deliveries.

Sales volume for the company grew 80 per cent in 2020 and it is now present in 38 cities. Dhindsa also pointed out that the company opened 23 new facilities in 2020, despite the lockdowns and "made significant investments to meet demand for essentials."

“We also looking at acquiring more local space in towns and cities and ramped up our partnership with local store partners," he added.

Verticals wise, Grofers is looking to expand into the fresh meat segment and focus on daily fresh-use categories such as milk, bread and vegetables.