Grocery startup BigBasket becomes Indian’s newest unicorn with new $150M investment – TechCrunch
6 May 2019 11:57 AM IST
India has a new unicorn after BigBasket, a startup that delivers groceries and perishables across the country, raised $150 million for its fight against rivals Walmart?s Flipkart, Amazon and hyperlocal startups Swiggy and Dunzo. The new financing round ? Series F ? was led by Mirae Asset-Naver Asia Growth Fund, UK?s CDC Group, and Alibaba, [?]
- India has a new unicorn after BigBasket, a startup that deliveries groceries and perishables across the country, raised $150 million for its fight against rivals Walmart's Flipkart, Amazon and hyperlocal startups Swiggy and Dunzo.
- Addition of $150 million for BigBasket, which raised $300 million last year, comes at a time when both Walmart's Flipkart and Amazon are increasingly expanding their grocery businesses in India.
- India's retail market, valued at over $900 billion, is increasingly attracting the attention of VC funds.
- The challenge for BigBasket remains fighting a growing army of rivals, including hyperlocal delivery startups including Grofers, which raised $60 million earlier this year, unicorn Swiggy and Google-backed Dunzo, which is increasingly becoming a verb in urban Indian cities.
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