Funding
BigBasket raises $60 million bridge round
By Startup Enthusiast ·
- Date
- Company
- BigBasket
- What it does
- Online grocer, Bengaluru
- Kind
- Funding
- Amount
- $60 million
- Stage
- Bridge round
- Based in
- Bengaluru
What they do
Existing backers Alibaba, Mirae Asset and CDC Group joined this bridge round (a short-term top-up before a bigger raise) in April 2020
What happened
The money was meant to scale delivery as lockdown kept customers at home and demand for online grocery shot up
Why it matters
A co-founder said a larger financing was planned within six to nine months, after the company reached unicorn status in 2019
The details
- BigBasket took in $60 million in a bridge round during April 2020.
- Alibaba, Mirae Asset and CDC Group, all existing investors, took part.
- Demand rose as customers stayed home during the lockdown.
- A bigger round was planned in the following six to nine months.
The deal
- Type
- Bridge round
Investors
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