[Funding alert] BigBasket confirms $150M funding from Mirae-Naver, Alibaba and CDC
6 May 2019 5:42 AM GMT
The latest funding brings hyperlocal grocery startup Bigbasket's valuation to over $1 billion.
- Bengaluru-based Supermarket Grocery Supplies Pvt Ltd (SGSPL), which owns and operates Bigbasket, has confirmed that it has closed $150 million in its Series F round from South Korea's Mirae Asset Global Investments, UK Government's development finance institution CDC Group, and the Alibaba Group.
- The latest funding brings the hyperlocal grocery startup's valuation to over $1 billion.
- Bigbasket said that these funds will be used for SGSPL's growth into existing markets with more investments in the first mile, scaling-up of its supply chain, and to develop new reseller channels.