BigBasket Inches Closer To $150 Mn Fundraise From Alibaba, Mirae, CDC Group
Last year saw BigBasket?s competition growing exponentially, with the foray of big players like Flipkart, Amazon India, and Paytm Mall in the grocery delivery sector.
- Bengaluru-based hyperlocal startup BigBasket is close to completing its $150 Mn funding round with sizable investments from Chinese ecommerce giant Alibaba, South Korean Mirae Asset Global Investments and the UK government-backed CDC Group.
- Alibaba Group will pick up 437.5K Series F CCPS in the company for $50 Mn at a value of $114.29 per share
- Mirae Asset will pick up 524.9K Series F CCPS for $59.9 Mn at a value of $114.29 per share.
- Prior to this round, BigBasket had raised a total of $874.6 Mn across 13 funding rounds from investors such as Alibaba, Helion Venture Partners, Bessemer Venture Partners, Abraaj Group, LionRock Capital and others.