Funding · Commerce & Consumer Brands

BigBasket raises ₹100 crore debt from Trifecta Capital

By Startup Enthusiast · 29 July 2019

What they do

BigBasket is an online grocery platform delivering fruits, vegetables, staples, and more across 26 cities

It raised ₹100 crore in debt from Trifecta Capital, a Gurugram-based debt provider, for expansion

The company became the first unicorn in e-grocery in March 2019 and is backed by Alibaba

BigBasket raised ₹100 crore in debt from Trifecta Capital, a Gurugram-based debt provider.
The funds will be used for new warehouses, cold chain strengthening, and fruit and vegetable reprocessing facilities.
The company plans to scale its BBDaily subscription service for milk and daily essentials.
It also aims to expand its BBInstant vending machine business.
BigBasket is pulling out from its on-demand delivery service Express Delivery.
It may shut down many dark stores used for quick deliveries due to high costs.
The company became the first unicorn from the e-grocery segment in March 2019.
BigBasket is backed by Alibaba.

Express delivery model is unviable because cost per delivery can go up to ₹80.
Competitor Grofers, backed by Softbank, has already shut down its express delivery feature.
Trifecta Capital has supported over fifty companies, including three unicorns and eight soonicorns.
Trifecta's portfolio includes Rivigo, UrbanClap, Cure.Fit, and Pharmeasy.

BigBasket operates in 26 cities across India.
It offers over 19,000 products from more than 3,000 brands including fruits, vegetables, staples, meat, beverages, and personal care.
The company is scaling its BBDaily subscription commerce for milk and daily essentials.
It is shutting down its Express Delivery on-demand service and may close many dark stores.

Use Trifecta's bank and non-bank relationships for future fund needs.
Build new warehouses, strengthen cold chain, and set up fruit and vegetable reprocessing facilities.
Scale BBDaily subscription service and BBInstant vending machine business.

Trifecta Capital (lead) — Gurugram-based debt provider that has supported over fifty companies including three unicorns.