BigBasket raised $200 million in new funds from Tata Digital and other investors boosting the valuation to $3.2 billion.
Hari Menon, co-founder and CEO, said the additional funding will be used to improve infrastructure and step up marketing for growth of the primary grocery business. It will also make additional investments in BB Now, its quick commerce product, as it entered the market relatively late. Up from the current total of 55 cities, BigBasket intends to expand its primary e-grocery business to about 75 cities. In addition, Tata Digital’s 1mg e-pharmacy service and the subscription-based BB Daily will be transferred to the main app.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
