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<keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword>, one of the country's second-most valuable ecommerce firm focused on a specific segment, is all set to get a funding of around Rs 800 crore, or $ 120-million. 
 
Online grocer BigBasket is going to get funding from US-based Sands Capital, International Finance Corporation and Bessemer Venture Partners. 
 
Reportedly, the deal is going to take at least two weeks. Presently, BigBasket's valuation is Rs 2,100 crore, or about $320 million. 
 
Through the latest funding round, it will be able to keep its growing competitors such as Grofers and PepperTap behind. 
 
Recently, BigBasket’s chief executive Hari Menon had said that he expected gross merchandise value of $300 million, or Rs 2,000 crore, for the ongoing financial year ending in March 2016. 
 
BigBasket, which has one-third of its sales from its own brands such as Fresho and BB Royal, ensures delivery of majority of the products as it operates on an inventory-based model. 
 
“We cater to both consumer needs, bulk pre-planned as well as on-demand emergency top-ups, with an inventory-led approach. For bulk orders, we fulfill orders through our warehouses and for one-hour express deliveries, we have set up about 63 'dark stores' around the city," Menon had said. 
 
Apparently, BigBasket handles about 2,700 orders per day.

BigBasket gets bigger, to get Rs 800
cr funding

Online grocer <a href="http://www.businessinsider.in/searchresult.cms?query=bigbasket&amp;sortorder=effectivedate">BigBasket </a>may raise $110-150 million from several financial and strategic investors. 
 If <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> gets the funding, its valuation may double up which right now stands at $450 million. 
 
The online grocer will use the funding for expanding its warehousing and cold chain facilities. 
 Recently, BigBasket received a funding of around $16 million from existing investors including Dubai-based private equity firm Abraaj Capital, Silicon Valley-based venture capital firm Bessemer, US-based investment firm Sands Capital, and the <keyword id="6354424" type="ORGANIZATION" weightage="20" keywordseo="World-Bank">World Bank</keyword>'s International Finance Corp. 
 
Also, Trifecta Capital debt financed BigBasket of about $7 million. BigBasket is also in talks with <a href="http://www.businessinsider.in/searchresult.cms?query=tencent&amp;sortorder=effectivedate">Tencent</a> and Fosun and other Chinese investors. 
 
ET reported <a href="http://www.businessinsider.in/searchresult.cms?query=amazon&amp;sortorder=effectivedate">Amazon</a> is also eyeing a strategic stake in BigBasket. 
 "There is a mismatch in terms of valuations, shareholding and terms of the deal being discussed with <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>. Amazon India has approached BigBasket for a deal at least twice since 2015," ET quoted sources as saying. 
 
India's online grocery retail market grew 44% year-on-year to $135 million in 2016, and is estimated to grow at the same pace over the next five years, as per Euromonitor.

BigBasket likely to raise $150 million and valuation may double up. Here’s how it plans to use it

<ul><li>According to RoC filings, <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">Bigbasket</keyword> has raised $150 million at a reported valuation of $2.3 billion. </li><li>The funding was led by Bigbasket’s earlier investor Alibaba and was joined by new investor Mirae Asset. </li><li>This will give Bigbasket more power to take on new entrants like Swiggy in the Indian online grocery space. </li></ul>Grocery <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> Bigbasket is the latest entrant into India’s fast-growing unicorn club. Bigbasket has <a href="https://www.business-standard.com/article/companies/bigbasket-joins-unicorn-club-with-150-mn-funding-valuation-jumps-two-fold-119032801319_1.html">closed</a> its Series F round of funding with an investment of $150 million, according to filings with the Registrar of Companies (RoC). With this round, Bigbasket’s valuation has more than doubled to reach a <a href="https://www.business-standard.com/article/companies/bigbasket-joins-unicorn-club-with-150-mn-funding-valuation-jumps-two-fold-119032801319_1.html">reported </a>$2.3 billion. The latest round of funding was led by the startup’s existing investor Alibaba while South Korean firm Mirae Asset joined its group of investors. With growing competition in the space, Bigbasket has been fast looking at ways of expansion. In a recent <a href="https://www.moneycontrol.com/news/business/bigbasket-aims-to-double-revenue-growth-to-rs-7000-crore-in-fy20-3590891.html">interview</a>, Hari Menon, co-founder and CEO of Bigbasket said that the company is looking at doubling its revenue to ₹70 billion in FY20. The <keyword id="7475397" type="UNKNOWN" weightage="20" keywordseo="indian-grocery">Indian grocery</keyword> sector has seen a lot of action lately. Foodtech unicorn Swiggy recently joined the grocery sector with <keyword id="7317638" type="UNKNOWN" weightage="20" keywordseo="Swiggy-Stores">Swiggy Stores</keyword> and has already piloted the operations in Gurugram with over <a href="https://www.business-standard.com/article/companies/swiggy-takes-on-bigbasket-grofers-to-deliver-groceries-from-local-stores-119021201294_1.html">3,500</a> local stores. But it’s not just startups that are interested in the grocery sector. Reliance industries-controlled Reliance Industrial Investment and Holdings Ltd (RIIHL) has <a href="https://tech.economictimes.indiatimes.com/news/startups/reliance-industries-subsidiary-inks-pacts-to-acquire-grab-a-grub-and-c-square-info-solutions/68245460">reportedly</a> picked up stake in Mumbai-based hyperlocal delivery startup Grab. See Also: <a href="https://www.businessinsider.in/swiggy-and-bigbasket-will-battle-softbank-and-mukesh-ambani-in-online-grocery/articleshow/68204293.cms">Online grocers are back in business in India with billions more to burn – and that may be good for consumers</a> <a href="https://www.businessinsider.in/milkbasket-strengthens-to-take-on-rivals-swiggy-and-bigbasket-acquires-veggie-india/articleshow/68590658.cms">Four years into the business, Milkbasket has acquired one-year-old startup Veggie India</a>

Indian grocery startup Bigbasket enters the unicorn club with a reported $2.3 billion valuation

Several investors have lined to rake in money in <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> and latest to join the list is Chinese ecommerce giant <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword>. As per various reports, Alibaba, <keyword id="4225623" type="UNKNOWN" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword>, Temasek Holdings, Fosun Group, etc, are in fundraising talks with BigBasket. Also, Alibaba has shown interest in picking up a stake in BigBasket. ET quoted sources as saying Alibaba-Paytm Mall combine have offered to invest $200 million in BigBasket at a valuation of nearly $900 million post the investment. Meanwhile, Fosun's venture capital arm Kinzon Capital is in discussions with BigBasket for co-investment in the ongoing funding round with a cheque of $20-30 million. "It is for the founders to decide who they would like to go with," ET quoted sources as saying. Alibaba and <keyword id="649392" type="COMPANY" weightage="20" keywordseo="Alipay">Alipay</keyword> own over 50% stake in Paytm Mall and have been focussing on investments in grocery and physical retail investments across the globe. "As matter of policy, we do not comment on market speculation and rumours," an associate on behalf of Temasek said in response to ET's queries. Apart from Alibaba, Amazon is also concentrating on the online grocery market in India. The company is likely to begin directly selling groceries and other food products online after recently securing the government's approval for its proposed $500-million foreign direct investment in the business.

BigBasket valuation may touch $900 million; Here’s how it is set to become bigger

<ul><li>E-commerce platforms like Amazon, Flipkart and BigBasket are racing to eliminate single use plastic from their packaging.</li><li>BigBasket is ahead of the curve as it replaced plastic packaging with paper bags completely three years ago. </li><li>Amazon India plans eliminate single use plastic by June 2020 and Flipkart is aiming for March 2021.</li></ul>Global e-commerce giants, <a href="https://www.businessinsider.in/searchresult.cms?query=amazon+india&amp;sortorder=effectivedate">Amazon</a> and <a href="https://www.businessinsider.in/searchresult.cms?query=flipkart&amp;sortorder=effectivedate">Flipkart</a>, aim to phase out single-use plastics from their packaging over the next two years. But, homegrown online grocery delivery platform BigBasket has been frugal in its use of plastic since its launched in 2011. "To a large extent we have reduced plastic to a large extent right from before. It’s not recent," Pooja Ravishankar, head of category marketing at BigBasket told Business Insider. For the past three to four years, <a href="https://www.businessinsider.in/searchresult.cms?query=bigbasket&amp;sortorder=effectivedate">BigBasket</a> has stopped using plastic entirely to deliver fruits and vegetables to its customers. "All our fruits and vegetables come in a paper bag," said Ravishankar. Amazon India, on the other hand, plans to eliminate all plastic packaging and replace it with paper cushions by June 2020. Walmart-owned <a href="https://www.businessinsider.in/flipkart-and-air-india-become-the-first-in-their-sectors-to-begin-the-fight-against-plastic/articleshow/70894061.cms">Flipkart</a>’s plan is to use 100% recycled plastic in their supply chain by March 2021. The company claims that it has been able to reduce its <a href="https://www.businessinsider.in/searchresult.cms?query=single+use+plastic&amp;sortorder=effectivedate">single use plastic</a> consumption by 25% as on 1 August, 2019. Flipkart stated that it plans to replace poly pouches with recycled paper bags and bubble wrap with carton waste shredded material. Challenges of making the transition from plastic to paper When BigBasket made the switch from plastic bags to paper bags for their fruits and vegetables, their primary concern was that they might lose customers as a result. "We were very worried because plastic gives you that transparency and vegetables look a lot nicer in plastic. Paper is opaque, and customers can’t see them. It’s a very touch-and-feel category," said Ravishankar. Despite the apprehension, BigBasket did not lose customers. They went ahead and switched other grocery categories to paper packaging as well and their bills are printed on <a href="https://www.businessinsider.in/searchresult.cms?query=recycled+paper&amp;sortorder=effectivedate">recycled paper</a>. "We want to reduce the packaging on fruits and vegetables as well. At the end of the day, paper packaging means trees are being cut down. Eventually we would want to move onto the thela (cloth bag) system," explained Ravishankar. Eliminating packaging altogether But, there’s still one challenge that remains — staples. Due to their weight and quantities, BigBasket still has to use plastic to deliver things like atta (flour) and dal (pulses). The company is mulling over shifting to recycle plastic to solve the conundrum "One of the dreams that we have is that we want to get rid of packaging completely. It’s a vision for us," stated Ravishankar. India has plans to implement a country-wide ban on single use plastic on with Prime Minister Narendra Modi expected to announce new guidelines today, 2 October 2019. During India’s 73rd <a href="https://www.businessinsider.in/topic/Independence-day">Independence Day</a>, Modi emphasised immediate measures that could put in place to eradicate non-recyclable plastic. See also: <a href="https://www.businessinsider.in/flipkart-and-air-india-become-the-first-in-their-sectors-to-begin-the-fight-against-plastic/articleshow/70894061.cms">Flipkart and Air India become the first in their sectors to begin the fight against plastic</a>

Big Basket ahead of e-commerce giants Amazon and Flipkart in eliminating single use plastics

Online grocery platform Bigbasket is looking at hiring 10,000 people for its warehouses and last-mile delivery to clear pending orders quickly and meet the spike in orders on account of the nationwide lockdown. "We are looking to hire 10,000 people for our warehouses and last-mile delivery. This hiring will happen across all 26 cities that we are present in," BigBasket Vice President-Human Resources Tanuja Tewari told . She added that the pressure is being felt across all cities with the challenges being higher in tier I cities. E-commerce companies have been struggling to deliver orders after the 21-day lockdown, imposed to contain the spread of the deadly coronavirus, came into effect from March 25. Even though the government has allowed delivery of essential goods including food, pharmaceuticals and medical equipment through e-commerce platforms, players have complained of their delivery staff being hassled by police. With local authorities shutting down warehouses and stopping trucks from crossing state borders, e-commerce players have seen their operations getting disrupted. The companies have resumed operations and working to complete pending orders. Some companies are giving people the option to cancel their orders, and are also delaying taking fresh orders to ensure the pending orders get delivered. gro Another challenge facing the industry is the availability of limited staff for warehouses and logistics. Tewari said currently, there is a shortfall of 50 per cent staff in the company's warehouses and delivery team. The company has started taking orders in all the cities but due to capacity constraints the slots are getting filled very quickly, she added. In a tweet, bigbasket said it is operating at about 40 per cent of its planned capacity. "We are operational across all our cities with limited slot capacities except Kochi and Indore... We were operating at 10 per cent of our capacity on March 25 and as of yesterday (April 2), we are operating at 40 per cent of capacity planned," it said. The company also has permits/passes from government authorities to ensure that its employees have safe passage for their work. It is also providing attractive salary and benefits package including health insurance to help staff at this difficult time. On Thursday, bigbasket partnered with ride-hailing platform Uber to deliver household essentials to customers.

COVID-19: Bigbasket to hire 10,000 people for warehouses, delivery

E-commerce giant Amazon and Alibaba-backed <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> have got approval to deliver liquor in West Bengal, according to a document. Online grocery platform BigBasket said this will be the company's first foray into the country's liquor delivery segment. The clearance also signals Amazon's entry into the space, likely for the first in India. State-owned West Bengal State Beverages Corporation Ltd (BevCo) invited the two companies to sign the agreements for empanelment for home delivery after finding them eligible, as per a notice dated June 19. BevCo, the sole wholesaler of liquor in West Bengal, also invited two Kolkata-based companies -- Senrysa Technologies Pvt Ltd and Golden Goenka Commerce Pvt Ltd for the signing of agreements. Asked when BigBasket would start operations, its CEO Hari Menon told PTI, "I cannot confirm now how soon we will start, but yes it will be the first for the company." Amazon did not comment on the approval. Food ordering platforms <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> and <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> have already started delivering alcohol in West Bengal with Kolkata and Siliguri after getting the required approvals, followed by the signing of agreements. Retailer Spencer's and HipBar have also joined the fray as the government allowed <keyword id="9025707" type="UNKNOWN" weightage="20" keywordseo="home-delivery-of-alcohol">home delivery of alcohol</keyword> to reduce footfall at stores amid the coronavirus outbreak. Another eight lesser-known companies, who expressed interest in alcohol delivery, have been asked by BevCo to demonstrate the capabilities of their platforms in executing online orders. Jharkhand was the first state in the country to allow home delivery of liquor by online platforms.

After Zomato and Swiggy, Amazon and Alibaba-backed BigBasket clearance to home deliver liquor in West Bengal

New Delhi, Apr 2 () Ride-hailing platform Uber will now deliver household essentials to customers and has partnered with bigbasket for the service amid the ongoing countrywide lockdown.Uber, which is in discussions with other supermarkets and pharmacies for offering similar delivery services, said two-wheelers (UberMoto) and four-wheelers (UberGo and UberXL) and network of driver-partners will help support delivery of essential supplies safely to consumers' doorsteps."This last-mile delivery service provides multiple wins. It supports authorities in containing COVID-19, delivers essential supplies in a timely manner to customers and creates earning opportunities for drivers. We will not charge any commission for our efforts," Uber India and South Asia Director-Operations and Head of Cities Prabhjeet Singh told .He added that the partnership with grocery delivery platform bigbasket is the first in this direction.With the implementation of the 21-day lockdown, the government has allowed only people in essential services like healthcare, banking and media to commute. With no cabs being allowed to ply, driver-partners of ride-hailing apps have been left with no source of income.Uber said its association with bigbasket will comply with all hygiene and traffic regulations. The new service will enable bigbasket to serve customers in Bengaluru, Hyderabad, Chandigarh and Noida. The e-passes required by the delivery partners as well as their training will be handled by bigbasket."The ongoing pan-India lockdown has led to a disruption in the supply of essential goods, primarily led by a shortage of personnel and delivery vehicles. We are very happy to partner with Uber India for this initiative and we will be utilising a portion of their huge fleet of cars, bikes as well as personnel to help with our deliveries to fulfill customer orders," bigbasket National Process Head-Last Mile Lalita Aggarwal said.All drivers associated with this service have been provided masks, gloves, sanitisers, and specialised safety training.E-commerce companies have been struggling to deliver orders after the 21-day lockdown to contain the spread of the deadly coronavirus came into effect from March 25. Even though the government allowed delivery of essential goods including food, pharmaceuticals and medical equipment through e-commerce platform, players have complained of their delivery staff being hassled by police.With local authorities shutting down warehouses and stopping trucks from crossing state borders, e-commerce players have seen their operations getting disrupted. Another challenge facing the industry is the availability of limited staff for warehouses and logistics.While these companies have gradually resumed services across various cities they operate in, it will still be a few days before they can clear the pending orders, according to industry watchers. Many of these firms have even stopped taking fresh orders to clear the pending orders. SR ANU

You Searched For "BigBasket" and got 8 results

BigBasket gets bigger, to get Rs 800 cr funding

BI India Bureau

BigBasket likely to raise $150 million and valuation may double up. Here’s how it plans to use it

BI India Bureau

Indian grocery startup Bigbasket enters the unicorn club with a reported $2.3 billion valuation

Sanchita Dash

BigBasket valuation may touch $900 million; Here’s how it is set to become bigger

BI India Bureau

Big Basket ahead of e-commerce giants Amazon and Flipkart in eliminating single use plastics

Prabhjote Gill

COVID-19: Bigbasket to hire 10,000 people for warehouses, delivery

PTI

After Zomato and Swiggy, Amazon and Alibaba-backed BigBasket clearance to home deliver liquor in West Bengal

PTI

Uber to deliver household essentials to consumers, ties up with bigbasket

PTI

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