This website requires JavaScript.
Daily Briefing

BigBasket raises USD 60 Mn

Apr 8, 2020 by The Passage Team
BigBasket raises USD 60 Mn

Online grocer BigBasket has raised $50-60 million in a bridge round led by Alibaba and other existing investors, according to four people familiar with the matter. This comes after the Bengaluru-based firm has been looking to raise fresh capital for about 8-10 months but was not able to do so.

“The round materialised about two weeks ago. It’s a much-needed capital for BigBasket that has been witnessing a surge in demand due to Covid-19,” said one of the people cited above requesting anonymity. “Other existing investors including Mirae Asset and CDC Group also participated in the round.”

Source: Entrackr

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

Follow The Passage Team