The valuation of the online grocery delivery company, BigBasket has reached across $1.2 billion after the recent funding round. The Indian grocery e-tailer has amassed up to $150 million post-funding round, which was led by Mirae Asset Global Investment, as reported by the Indian daily news, The Economic Times.
In a regulatory filing, it was informed that Mirae Asset will endow $ 59.9 million whilst Alibaba Group will endow $50 million and CDC group will endow $ 40 million.
Post-funding round, BigBasket will aggressively work to venture in more cities and initiate more categories such as micro-delivery. Further, the e-tailer company will move ahead of the emerging grocery e-tailer companies like Amazon, Grofers and Flipkart which are trying to encroach in the grocery segment.
In FY18, Supermarket Grocery Supplies, an operator of BigBasket, amassed $200 million in the funding round, which was led by Alibaba Group. Moreover, there was a secondary component in the business deal.
At present, the shareholding in BigBasket is as follows: