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.

Join the Conversation

71 Comments

  1. 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.

  8. 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

  12. 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. 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.

  16. 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

  20. 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