Bigbasket raises $300 million funding from Alibaba

Updated:1 year ago IST

New Delhi, Feb 02 (ANI): In a fresh funding led by Chinese e-commerce company Alibaba, the online grocer Bigbasket has raised USD 300 million. The funds will be used as investment to build farmer networks, expand deeper into existing cities, and become the most preferred employer for blue-collar jobs. Bigbasket’s CEO and co-founder Hari Menon said, “The funds will be directed towards bettering our technological, analytical, and infrastructural prowess, all of which will enable the company to move up the curve. Bigbasket is currently partnering with about 1800 farmers throughout the country and aims to become the 'most preferred partner' for up to 3000 of them." Bigbasket recently crossed the 8 million customers mark and continues to expand its customer base. It has also strengthened its B2B business by expanding to the hotels, restaurants, and caterers segment and partnering with kirana stores in an effort to transform them into technology-enabled modern retail stores.

Related Video

iocl