The firm has also made a first close at Rs 78 crore for its debut private equity fund, CapAleph Indian Millennium SME Fund, raising money from domestic investors.
New York-based investment firm Thrive Capital, Russia's ru-Net Holdings and existing investor Chinese online giant Tencent are in advanced negotiations with the company.
The round, which also saw the participation from all existing investors, Network 18, Accel Partners, and SAIF Partners, values the portal at more than Rs 3,000 crore.
It is discussing internally if it should hold its Big Billion Day event on separate days in October so it has greater control over deliveries and customer service.
The development comes as investor interest in non-banking finance companies (NBFCs) has increased, especially those lending to small merchants and leveraging technology.
VC funding hit a peak in 2015, as 473 deals were registered during the year against 307 deals recorded in 2014.
In a email to its employees, Grofers said it will be laying off few people in every department but the support & content department will be the worst impacted.
Chief financial officer R Natarajan, who was overseeing Helion’s Bengaluru operations, has put in his papers amid delays by the investment firm in raising capital for a new fund.
Five Star’s typical clients include tea shop owners, vegetable vendors, small machine owners, provision stores, waste paper recycling units, tailors, and power looms.
More importantly, building a physical presence helps these retailers tap those millions of customers who are still uncomfortable shopping online.
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