One of the founders of Grofers, Saurabh Kumar has just announced his exit from executive roles of the company. He will still be a board member and enjoy the shareholding he had in the firm.

This surprising update from the company has just squeezed in the public domain when Grofers is going to put its first ever IPO backed by Soft-bank.

Albindar Dhindsa, CEO, Grofers, in a tweet on Friday, said he spent the last 8 years building Grofers with Kumar and that “SK is moving on to other challenges”.

“So While SK will no longer be involved in day-to-day responsibilities at Grofers, he will continue to be a board member and a shareholder at the company. This is the end of an era for Grofers, and I know all of us will absolutely miss having him around everyday,” Dhindsa said in a blogpost.

Saurabh Kumar, Co-founder, while reminiscing the role he enjoyed therein and keeping up the morale of his teammates wrote a mail announcing his exit and sculpted new spirits to fellowmates.

“After almost 8 years of building Grofers, I have decided to call it time on my current Grofers journey…I have been reflecting on my life and personal ambitions for some time. And my decision to step away is the outcome of that. I want to wander again,” he said.

Albindar Dhindsa stated yesteryear about the company’s newer targets of launching IPO and rooting its foots super well in the customer service and the segment of business where Grofers lies.Further, Company is also going to procure around USD 100-120 million in a fundraising drive.

Company is a market boss, worked efficiently in making online grocery business a go-to for huge chunk of population from various topographies in this dreaded COVID times.

Company competes against players like Amazon, Flipkart, Alibaba-backed Bigbasket and billionaire Mukesh Ambani’s upstart JioMart in this space.

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