Abu Dhabi Capital Group (ADGC) has made a $10 million investment in Indian online grocery delivery service startup Grofers.
Under the financing deal, ADCG has subscribed to 191,000 Series F shares of Grofers, valuing the startup at $700 million.
With the money raised from the round, Grofers will expand its supply chain network and add more cold storage centres and distribution centres.
In May this year, the startup secured $200 million in a funding round led by Japan’s SoftBank Group Corp.