A screenshot of the BigBasket website. Photo: Supplied

Online grocery delivery firm BigBasket has become the second Indian startup to attain unicorn status – with a valuation of more than US$1 billion – in 2019, with the latest round of funding led by China’s Alibaba.

Earlier this week, Delhivery, an e-commerce-focused logistics start-up, saw its valuation top $2 billion after the SoftBank Vision Fund led a $413-million investment round.

In the latest round of funding, the Bangalore-based BigBasket has raised $150 million. While Alibaba will invest $50 million in this round, South Korea-based Mirae Asset will put in $59.9 million. CDC Group, a development finance group linked to the UK government, is the other prominent investor with $40 million.

The current estimated valuation of BigBasket is about $2.3 billion, which is more than double its last reported valuation of $950 million, Business Standard reports.

After the latest investments, Alibaba will hold a 26.26% stake, while Mirae Asset and CDC Group will own 5.31% and 3.54%, respectively in BigBasket. In February last year, BigBasket had raised $300 million, led by Alibaba.

Founded in 2011, BigBasket is now the largest grocery delivery firm in India with a presence in 32 cities and annual revenue of about 4 billion rupees.

BigBasket is expected to use the fresh capital to go deeper into the online grocery segment and develop in-house brands, as the competition has intensified following the entry of Amazon Pantry and Flipkart’s Supermart.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now. 

Join the Conversation

71 Comments

  1. Just desire to say your article is as astounding. The
    clarity on your publish is simply nice and i can think you are
    a professional on this subject. Well together with your permission allow me to take hold
    of your RSS feed to keep up to date with forthcoming post.
    Thank you one million and please keep up the gratifying work.

  2. Please let me know if you’re looking for a writer for your blog.
    You have some really great posts and I believe I would be a good asset.
    If you ever want to take some of the load off, I’d absolutely love to write some
    material for your blog in exchange for a link back to mine.
    Please send me an e-mail if interested. Regards!

  3. Do you have a spam problem on this blog; I also am a blogger, and I was
    wanting to know your situation; many of us have created some nice practices and we are
    looking to trade solutions with other folks, be sure to
    shoot me an email if interested.

  4. Very nice post. I just stumbled upon your weblog and wanted to say that I’ve truly enjoyed browsing
    your blog posts. In any case I will be subscribing to your rss feed and I hope you write again soon!

  5. I’m not sure where you are getting your information, but good topic.
    I needs to spend some time learning much more or understanding more.
    Thanks for magnificent information I was looking for this information for my mission.

  6. I am really impressed with your writing skills and also with the layout on your weblog.

    Is this a paid theme or did you modify it yourself?

    Either way keep up the nice quality writing,
    it is rare to see a nice blog like this one nowadays.

  7. Howdy! This is kind of off topic but I need some help from an established blog.

    Is it very hard to set up your own blog? I’m not very
    techincal but I can figure things out pretty quick. I’m thinking about making my
    own but I’m not sure where to begin. Do you have any tips or
    suggestions? Thank you

  8. I was very pleased to find this great site. I wanted to thank you for your time just for this fantastic read!! I definitely really liked every part of it and i also have you saved to fav to check out new stuff in your website.

  9. I really like your blog.. very nice colors & theme.

    Did you make this website yourself or did you hire someone to do
    it for you? Plz answer back as I’m looking to construct my own blog and
    would like to know where u got this from. thanks a lot

  10. hey there and thank you for your information – I’ve
    definitely picked up something new from right here. I did however expertise a few technical points using this web site,
    since I experienced to reload the website lots of times previous to I could get it
    to load properly. I had been wondering if your hosting is OK?
    Not that I am complaining, but slow loading instances times will often affect your placement in google and can damage your
    high quality score if ads and marketing with Adwords.
    Anyway I’m adding this RSS to my e-mail and can look out for
    a lot more of your respective intriguing content. Make sure you update this again very
    soon.

  11. I think this is one of the most vital info for me.
    And i am glad reading your article. But should remark on few general things, The web
    site style is great, the articles is really great
    : D. Good job, cheers

  12. really nice

    This is as a matter of fact credible information my friend. you are a very most luxurious scribe . i want to share with you my website as well. foresee me what do you deem approximately it

    buy youtube views

    Thankyou again for posting such good content. Cheers

  13. Howdy I am so grateful I found your blog page, I really found you by mistake, while I was looking
    on Yahoo for something else, Anyways I am here now and would just like to say kudos
    for a fantastic post and a all round entertaining blog (I also
    love the theme/design), I don’t have time to read it all at the minute but I have saved it
    and also added in your RSS feeds, so when I have time I will be back to read a lot more, Please do keep
    up the superb job.

  14. Wow, incredible blog layout! How long have you been blogging for?

    you make blogging look easy. The overall look of your site is fantastic, as well as the content!

  15. This is a truly interesting website I must say.

    Too bad that there are not too varied websites like This anymore. But I am happy that I originate it. Ok champion writing on it .

    You can see my website here as luxuriously: xbody dristor

  16. What’s Taking place i’m new to this, I stumbled upon this I’ve discovered It positively helpful and it has helped me out loads.

    I hope to give a contribution & aid other users like its helped me.

    Great job.

  17. My spouse and I stumbled over here by a different page and thought I might as
    well check things out. I like what I see so now i’m following you.
    Look forward to finding out about your web page for a second time.

  18. certainly like your web-site but you need to test the spelling on several of your posts.
    A number of them are rife with spelling issues and I in finding it
    very troublesome to inform the truth on the other hand I will definitely come again again.

  19. Greetings from California! I’m bored at work so I decided to check
    out your site on my iphone during lunch break. I really like the info you provide here and
    can’t wait to take a look when I get home. I’m surprised at how fast your blog
    loaded on my phone .. I’m not even using WIFI, just 3G ..
    Anyways, good site!

Leave a comment

Your email address will not be published. Required fields are marked *