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BigBasket Becomes a Unicorn Post-Funding Round

The valuation of the online grocery delivery company, BigBasket has reached across $1.2 billion after the recent funding round
BY BEx Bureau
BusinessEx
Mar 30, 2019

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:

  • Alibaba Group holds 24 per cent
  • Ascent Capital holds 15.5 per cent
  • Abraaj Group holds 16.2 per cent
  • BigBasket holds 11 per cent

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