BigBasket Inches Closer To $150 Mn Fundraise From Alibaba, Mirae, CDC Group
28 March 2019 9:01 AM GMT
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.
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