BigBasket Garners Rs 1050 Crore to Enter the Unicorn Club | CashKaro News Network

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A global investor named Mirae Asset- Naver Asia Growth Fund, CDC Group, the development finance institution of the UK Government along with Alibaba Group are the investors in BigBasket. These investors together have enabled BigBasket to raise a whopping $ 150 million (Rs 1050 Crore) funding in Supermarket Grocery Supplies Pvt Ltd that owns and manages BigBasket, India’s leading online grocery store.

The money raised would be used to further go deep into the existing markets. Furthermore, scaling up and optimising supply chain and making inroads into developing innovative reseller markets also figure high on BigBasket’s agenda.

The Bengaluru-headquartered Supermarket Grocery Supplies was founded in 2011 and works with resellers across India. The company has operations in 10 metros and 15 Tier-II cities.

Source: www.thehindubusinessline.com

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