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A group of investors, including South Korea-based Mirae-Naver and China’s Alibaba Group, led the round, which also included participation from London-based CDC Group. (We’ve put in an email to the company to confirm its valuation and will update this story if we hear back.)
Eight-year-old BigBasket, which sells a range of products such as groceries and pet food, operates in 25 Indian cities. It is reportedly going to use the fresh capital toward expansion. The round brings BigBasket’s total raised over time to nearly $1 billion.
BigBasket competes with Amazon and a subsidiary of Walmart, among others.
The funding comes at a time when India’s food delivery space is ramping up. In March, we reported that Grofers, an India-based startup that delivers grocery staples, had raised $60 million from SoftBank Vision Fund, upping its valuation to $425 million, according to the Economic Times. And, Swiggy, an India-based company that delivers food from restaurants, raised $1 billion in December in a round led by South Africa-based Naspers.
Illustration: Li-Anne Dias