Indian Grocery Startup BigBasket Raises $100 million, For Building Vending Machines and Smaller Distribution Centres
BigBasket is generating $100 million to boost up its supply
BigBasket is building vending machines and smaller distribution centres
BigBasket is attempting to lessen its delivery time and make sure that the quality of dairy are fresh produced
Online grocery player BigBasket is generating $100 million (INR 695 crore) to boost up its supply by building vending machines and smaller distribution centres acrros numerous cities it operates in. The Alibaba backed platform is registered has recently raised $150 million (INR 1043 crore) in a funding round led by Mire AssetNaver Asia Growth Fund, Alibaba Group and CDC Group.
Bigbasket is the biggest e-grocery supermarket in India. Founded by VS Sudhakar, V S Ramesh, AbhinayChoudhari, HariMenon&VipulParesh in 2011. The Bangalore-based company is available in 25 Indian cities. The company is planning to utilise its recent funds to further infiltrate into current markets with more investments in the firs mile, raising its supply chain and for setting up new reseller channels.
Vipul Parekh, Co-founder, BigBasket said “We want to provide two-hour delivery in top big cities that we operate in by July this year. For that, we have been focusing on strengthening our distribution points. We have around 18 big and 80 smaller distribution points in total, with our resellers and this will be lifted to 20 big and 100 smaller points by June of this year.”
BigBasket is attempting to lessen its delivery time and make sure that the quality of dairy are fresh produced. The company estimates its capital expenditure towards these enterprise to be around $100 million this year.
“We are lifting up our dairy subscription business, BB Daily, under which we made the supply chain to deliver milk and other dairy products in the morning. The serviice was launched in last September and our sellers already carry around 1 lakh orders daily. We are focusing to take this to one million order everyday and make a stronger supply chain infrastructure will play a vital role in this,” Parekh added.
Another section where the grocery startup has to focus is investing in setting up unmanned vending machines, BB Instant, in office and apartment complexes.
What is BigBasket?
Bigbasket is the biggest e-grocery supermarket in India. Founded by VS Sudhakar, V S Ramesh, AbhinayChoudhari, HariMenon&VipulParesh in 2011. Based in Bangalore, Bigbasket’s is available in Mumbai, Pune, Delhi, Hyderabad, Chennai, Vijayawada, Mysore, Lucknow, Kolkata, Ahmedabad, Gurugram, Vadodara, Patna, Indore, Visakhapatnam, Surat, Nagpur, Chandigarh, and others.
Bigbasket was introduced at a time when India’s busy personnel in the urban area was not able to find time to buy groceries from their busy schedule. With Bigbasket, it became more flexible to place an order anytime and get it delivered at your doorstep. Different groceries items such as Vegetables, oil, masalas, fruits, bakery items, beauty products, beverages, eggs, meat, fish and many more. Currently, There are more +18,000 products are available with more than 1000 brands under its belt. And in 20115, Bigbasket signed up actor Shah Rukh Khan as the brand ambassador.
Bigbasket current estimated revenue is Rs 3,500 crore according to the fiscal year 2019 and they are targeting to double it to Rs 7,000 by FY20. CEO Menon said, “The finance raised will be utilized for marketing, building infrastructure and developing the technology.”
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