Grofers to raise tech team pay by 33%, promises hefty ESOP allocation

Grofers on Monday said it will offer a 33 per cent hike in salary to its tech team effective July, along with a "hefty ESOP allocation" as the online grocery delivery platform looks to retain staff and woo more tech talent. The SoftBank-backed company, which plans to launch an initial public offering (IPO), also hinted that it has secured a new funding round. "After coming out of the second wave, and at a point where our next funding round is secure, I think it is time to kickstart a lot of initiatives that I have been waiting for the right time to begin. "We have done well so far, but we need to do better. And in hindsight, one of the most important things we could have done in the past in order to do way better is focus and invest more in tech than we have so far," Grofers CEO Albinder Dhindsa said in a blogpost. He added that tech will always be the "number one priority going forward". As per reports, Grofers is in talks for a USD 100-120 million fund raise. Admitting that Gro

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