StopDownOpen the app

Funding · Commerce & Consumer Brands

BigBasket plans $400m round at $1.5-2b valuation

By ·

BigBasket logo
Date
Company
BigBasket
What it does
Online grocery delivery service
Kind
Funding
Amount
$400M
Stage
Series F
Based in
Bengaluru
Sector
Commerce & Consumer Brands

What they do

BigBasket is an online grocery delivery firm based in Bengaluru

What happened

It is planning a $400 million funding round at a valuation of $1.5-2 billion

Why it matters

The round would make it a unicorn (valuation over $1 billion) and fund expansion; it recently launched a micro-delivery service and acquired two smaller rivals

The details

  • BigBasket is planning its next funding round at a $1.5-2 billion valuation.
  • It aims to raise about $400 million from new and existing investors.
  • The company has already received a term sheet as part of the talks.
  • If the round closes, BigBasket will become a unicorn (valuation over $1 billion).
  • In February 2018, it raised a $300 million Series E led by Alibaba at an $800 million valuation.
  • The funds will be used for aggressive expansion across major metros and acquisitions.
  • BigBasket launched a micro-delivery vertical called BBdaily two weeks before this article.
  • It also acquired RainCan and Morning Cart in Bengaluru a few months earlier.

The bigger picture

  • The round signals BigBasket's ambition to dominate India's online grocery market.
  • It comes amid competition from Grofers, Amazon, and Flipkart in grocery.
  • The company expects to reach $1 billion in gross sales run rate by March 2019.

About the business

  • BigBasket is an online grocery delivery firm based in Bengaluru.
  • It reported a FY17 turnover of ₹1,176 crore and a loss of ₹312 crore.
  • It operates through multiple verticals including BBdaily for micro-delivery.
  • It has acquired smaller rivals like RainCan and Morning Cart to expand reach.

What happens next

  • BigBasket plans to use the funds for aggressive expansion across major metros.
  • It will likely acquire customers via cashback and discounts in coming months.
  • It may also pursue further acquisitions of smaller players.

The deal

Type
funding

Investors

  • Alibaba (existing) — Alibaba led the previous $300 million Series E round in February 2018.

Founders

  • Hari Menon, founder

Read it as a card in the app

More on BigBasket

Everything on BigBasket →