In brief: SoftBank leads $200m round for India’s Grofers

nSoftBank Vision Fund led a US$200 million investment round for Indian online grocery startup Grofers, pushing the startup’s valuation to roughly US$1 billion, Bloomberg reports.nExisting investors Tiger Global and Sequoia Capital, along with new investor KTB, also participated in the funding round.nGrofers CEO and co-founder Albinder Dhindsa claims the startup had a “top line of US$400 million and grew eight times in the last two years,” expecting that the company will become “India’s largest online grocer this quarter.”nThe startup faces steep competition in the country, including Walmart’s Flipkart, Amazon, and Alibaba-backed BigBasket.n