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Mohabbatein movie 720p torrentOcado may raise up to £1bn in new funding to challenge Amazon’s domination of the UK grocery market.

The leading online supermarket is holding talks with investors and is in advanced negotiations, according to people briefed on the discussions.

The discussions, which began in late July, were first reported by The Times. Ocado did not comment on the reports but the Financial Times said it understood that the talks had been held with investors, including some of the City’s biggest pension funds.

Ocado was founded in the late 1990s by David Rawlinson, a former McKinsey consultant. He set up the company and continues to run it with co-founders Tim Steiner, Janine Pigeon and Martin Hine, a former aide to former prime minister Tony Blair.

The online supermarket has grown quickly in recent years, raising £200m from investors in 2014, £300m in 2015 and £200m in the first half of 2016, according to the newspaper.

Ocado was reported in May to be in negotiations to secure a £1bn-plus investment from investors including the Carlyle Group, the US private equity giant.

In its annual review last month, Ocado said that the increased investment would “drive double-digit growth” and create “a solid foundation for future growth”.

Ocado shares closed on the London Stock Exchange on Thursday at 421p, down 2.2 per cent, on heavy volume of 104.4m shares traded.

In a statement last week, Ocado said it expected to announce the results of its results in the third quarter of 2017. The company said it intended to use the investment to “accelerate its transformation, doubling the size of its workforce, improving customer experience, strengthening its technology capabilities, increasing its presence in the UK and Europe, and developing new channels”.

Amazon has been expanding its footprint in the UK grocery sector, with a grocery shop that can be opened in London and a delivery service that can be set up within 48 hours in some 0b46394aab

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