- Indian grocery company BigBasket announced it raised $60 million in funding to scale the company
Indian grocery company BigBasket announced it raised $60 million in funding to scale the company. BigBasket co-founder Vipul Parekh told TechCrunch that Alibaba and other existing investors including Mirae Asset and CDC Group participated in the bridge round.
BigBasket is planning to raise a larger round of funding in the next 6-9 months.
Including this round of funding, BigBasket has raised about $720 million in funding and debt financing so far. And the company is aggressively hiring additional delivery staff in order to meet surging demand during the coronavirus lockdown. BigBasket said that the volume of orders surged by up to 5 times in recent weeks. Last week, BigBasket partnered with Uber and Rapido for grocery delivery in India.
BigBasket is available across dozens of cities in India and it has a selection of thousands of grocery products.
