ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business deals

India's Zomato to buy SoftBank-backed delivery startup for $570m

Purchase of Blinkit comes as mainstay food delivery revenues flatten

Indian food delivery company Zomato is buying a local instant grocery startup as competition heats up.    © Reuters

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more