Big Basket is going to invest $100 Million to set up vending machines and smaller distribution centers.
Bigbasket has raised a total $885.7 Million till now with 13 funding rounds.
Bigbasket delivers 20,000 products from over 1,000 brands.
Supermarket Grocery supplies private limited owner of Bangalore-based hyper-local grocery delivery firm, Big Basket is going to invest $100 Million (about Rs 698 crore) to strengthen its supply chain by setting up vending machines and smaller distribution centers across various cities it functions. Alibaba backed online grocery platform, which is registered as Supermarket Grocery Supplies, had currently raised $150 million in funding round, led by Alibaba Group, Mirae Asset-Naver Asia Growth Fund, and CDC group. By this fund, Bigbasket had made a successful entry into India’s Unicorn start-up club. Previous year Bigbasket raised $200 Million in a funding round led by Alibaba. At that moment startup was valued $912 Million. Online grocery giant now delivers 20,000 products from over 1,000 brands. Till now Bigbasket has done enormous funding. It has raised a total $885.7 Million till now with 13 funding rounds. Its main investors include Helion Venture Partners, Chinese Conglomerate Alibaba, Bessemer Venture Partners, Abrraj groups, Lion Rock Capital, IFC, and new investors CDC group and Mirae assets global investments. Currently, Alibaba holds the highest share in Bigbasket with 26.2 percent stake, followed by Abraaj Group at 16.2 percent and Ascent Capital at 15.5 percent. BigBasket’s promoters hold around 10 % including the employee stock ownership plan.
Bigbasket came into 2011 and is functional in 25 cities of India. It plans to utilize the proceeds of this fundraising, to further go deeper into existing markets with more investments in the first mile, scaling-up of its supply chain and for developing new re-seller channels.
Vipul Parekh, Co-founder, BigBasket, “We are in a wish to enable two-hour delivery in top 10 cities in which we will be functional by July this year. For that, we have been investing in strengthening our distribution centers. We have 18 large and 80 smaller distribution centers together with our re-sellers and this will be ramped up to 20 large and 100 smaller ones by June this year.” He also added by this move delivery time will be reduced and we will be able to offer the quality of dairy and fresh produce to our customers.
Bigbasket is also focusing on its in-house brand Fresho for idli, dosa, and Vegetables; Royal and popular for staples and Tasties for snacks. This move has made Bigbasket self-dependent and it plans to have 45% overall sales from its private labels whose contribution is now approx 34%.
The company has acquired milk delivery startups Morning Cart and Rain Can make an entry into micro delivery space. Bigbasket is trying to become a Unicron in food e-tailer services. Stay tuned with us for the latest updates!
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