Funding · Commerce & Consumer Brands

Bigbasket becomes unicorn with $150M Series F

By Startup Enthusiast · 28 March 2019

What they do

Bigbasket is an online grocery e-commerce company based in Bengaluru

It raised $150 million in Series F funding led by Alibaba, with CDC Group and Mirae Asset Global participating

The company plans to use the funds to compete with Amazon, Grofers, and other micro-delivery platforms

Bigbasket raised $150 million in a Series F funding round.
The round was led by Alibaba with $50 million.
CDC Group, the UK government-owned development finance institution, invested $40 million.
Mirae Asset Global from South Korea invested $59.9 million.
The company's post-money valuation crossed $1.2 billion, making it a unicorn.
An estimate by paper.vc put the valuation at $2.28 billion.
Bigbasket is the second unicorn of 2019 after Delhivery.

The funds will be used to fight Amazon, Grofers, and micro-delivery platforms like Milkbasket, Dailyninja, and Suprdaily.
Bigbasket also faces competition from Flipkart, Swiggy Store, and Zomato.
The company had acquired RainCan and Morningcart in 2018 to strengthen its micro-delivery service BBDaily.
Bigbasket was in talks with Dunzo for a potential acquisition.

Bigbasket is an online grocery e-commerce platform headquartered in Bengaluru.
It operates a micro-delivery service called BBDaily across six cities.
In FY18, Bigbasket reported revenue of Rs 1,606 crore, a 35% increase from the previous year.
Its losses in FY18 were Rs 310 crore, a 53% reduction from the prior year.

Bigbasket plans to use the proceeds to compete with Amazon, Grofers, micro-delivery platforms, and Flipkart.