BENGALURU -- Food delivery company Zomato will buy SoftBank-backed Blinkit, a startup that promises rapid grocery deliveries, for 44.47 billion rupees ($569 million), in a deal announced Friday.
Blinkit, formerly Grofers, was one of the early stars of hyperlocal commerce in India. Set up in 2013, Grofers delivered orders from nearby stores. It was backed by SoftBank, Tiger Global Management and Sequoia Capital among others.
