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<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

New Delhi, Mar 16 () Online grocery platforms Grofers and BigBasket are witnessing up to two-fold growth in purchases as authorities in multiple cities close malls and shopping places to contain the coronavirus pandemic. The e-tailers said they are shoring up supplies amid the sudden increase in demand due to panic buying across a number of cities in the last couple of days. These companies are witnessing very high demand for products in the personal hygiene category as well as immunity boosting items such as honey and ayurvedic products. "In the last couple of days we have seen what we may call panic buying across a number of cities and categories. Cities like Mumbai, Bangalore, Pune and Ahmedabad have seen a higher surge with nearly 80 per cent growth followed by Delhi NCR and Hyderabad at a 60 per cent spike in business for a 75 per cent growth in national business," said Grofers Co-Founder and CEO Albinder Dhindsa. "We have seen a rise in both the number of orders at 45 per cent as well as order value at 18 per cent," he added. Alibaba-backed BigBasket said it has witnessed two-fold growth in traffic and revenue. It has also witnessed an increase of 15-20 per cent in its basket value. Though BigBasket has faced "some disruption" in its supply chain in the last three days, the company said it has taken corrective action and has "geared up for supplies to meet the increased demand". On delivery delays, BigBasket said, "We will face some constraints for a few more days because it takes time to build capacity in terms of storage, delivery fleet and people. Our teams are working hard to streamline this and we will be back on track very soon." Grofers said supply has not been an issue for it so far. "However, we are still bumping up capabilities and hiring more people to ensure availability and access of critical goods. We are also working with more manufacturing partners to scale the supply basis demand, while requesting customers to opt for considerate shopping so that shelves remain stocked for everyone," said Dhindsa. Dhindsa said in the personal hygiene category, Grofers has seen a demand surge of 400 per cent in sanitizers, 120 per cent in hand washes and 70 per cent in soaps followed by floor cleaners. "Immunity boosting items such as honey and ayurvedic products like chyawanprash have seen a growth of 60 per cent. High demand has been observed in disposable categories such as toilet paper and tissues. Lately, we are also observing panic buying and hoarding of essential commodities like atta, sugar, pulses and rice," he said. BigBasket has also witnessed increased demand for essential items such as staples, atta and dal, fruits and vegetables "We are in control because the predominant share is from our private label products. We are not facing shortages in FMCG branded products except in the case of sanitizers. In effect, supply will not be an issue," BigBasket said. Grofers said it has observed hoarding tendencies among some of its users and is blocking them to make sure essential items are available to genuine customers. "Yes, we have observed hoarding behaviour among consumers across states. We are taking a hard approach to hoarding of essential commodities. A lot of people are trying to game the system to acquire items and we are working proactively to block them and make sure essential supplies will be available to genuine customers," said Dhindsa, adding it has also discontinued promotions for essential commodities. Excessive buying or multiple orders to bypass inventory limit can lead to order cancellations on the platform, he added. However, BigBasket said it is "not witnessing hoarding behavior thus far". KRH ABM

Grofers, BigBasket see orders soaring as virus lockdown shuts malls

<ul><li><keyword id="2466939" type="COMPANY" weightage="20" keywordseo="Grofers">Grofers</keyword> has raised over $200 million from Softbank Vision Fund. </li><li>In 2019 itself, three Indian startups have already entered the unicorn club, Grofers could soon become the fourth. </li><li>Over the last two years, Grofers has grown by a staggering 800% to achieve an annual revenue of $400 million. </li></ul>Grocery retail startup Grofers has today raised over $200 million from Softbank Vision Fund. With this funding, its reported valuation is set to be almost $1 billion – just a few steps away from being a unicorn. The series F round also saw participation from new investor, KTB, and along with existing investors – Tiger Global Management and Sequoia Capital. The formerly reclusive Indian unicorn club now has many more members in it. In 2019, three Indian startups have already entered this club, which is exclusive for startups valued at and over $1 billion. Grofers could be the second grocery startup to garner this valuation. Its competitor <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> hit this number in March 2019. Staggering Growth According to the company's statement, over the last two years, Grofers’ has grown by a staggering 800%, to achieve an annual revenue of $400 million. “We are building Grofers for the millions of Indians who cannot buy groceries at low prices due to multiple middlemen and absence of large aggregators,” said Albinder Dhindsa, Co-Founder and CEO of Grofers in a statement. “This latest investment will help scale the company to ensure many more customers can access best quality products at best prices,” he added. Grofers plans to use new funds to expand to new markets across the country. The funding will help the startup build its supply chain network, warehousing infrastructure and private label products, and ensure a steady increase in product range. The investors are banking on growth in the Indian grocery segment which is expected to touch $869 billion by 2023. In March, BigBasket raised funding from its existing investor Alibaba along with South Korean firm, Mirae Asset. Meanwhile, yet another Indian unicorn Swiggy, too announced its foray into grocery segment, with Swiggy stores. Corporate giant <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> which owns and operates <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword>, is keen on joining the bandwagon as it has acquired Mumbai-based hyperlocal service, Grab. See Also: <a href="https://www.businessinsider.in/bigbasket-joins-unicorn-club-with-a-fresh-investment-of-150-million/articleshow/68624890.cms">Indian grocery startup Bigbasket enters the unicorn club with a reported $2.3 billion valuation</a> <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>

Grofers delivers a funding at the door of the unicorn club

<ul><li>After a couple of dull years and a few failures, online grocery in India is back with a bang. </li><li>SoftBank has put in fresh funds in Grofers while Reliance Industries Limited is reportedly looking to buy a majority stake in Grab. </li><li>Swiggy had recently announced its foray into online grocery delivery with Swiggy stores. </li></ul> There was a time when the online grocery vertical had become the hot favourite with major players trying their luck in the game. But soon with failures piling up one over the other, exits were announced. Come 2019 and it seems like it’s going to be the year hyperlocal grocery delivery again. Sector leader BigBasket may become the first unicorn – clock a valuation of $1 billion – of 2019, and food delivery startup Swiggy threw in its hat into groceries with Swiggy Stores. Swiggy, which raised a whopping $1 billion in funding in December, has already piloted the operations in Gurugram and has tied up with <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. However, these startups will be battling the deep pockets of Mukesh Ambani and the Japanese Softbank. Reliance Industries Limited is <a href="https://timesofindia.indiatimes.com/business/india-business/ril-in-talks-for-majority-stake-in-startup-grab/articleshow/68192744.cms">reportedly</a> in talks to buy a majority stake in Grab, a hyperlocal delivery startup for groceries, medicines and food based out of Mumbai. Grofers has raised <a href="https://tech.economictimes.indiatimes.com/news/internet/grofers-raises-fresh-funds-from-existing-investor-softbank-as-e-grocers-valuation-hits-425m/68203728">fresh funds</a> from SoftBank Vision Fund (the Japanese firm had earlier too invested in the e-grocery company) which takes its valuation to $425 million. This excitement was missing in the space the last few years. E-grocery startup PepperTap had to shut its operations in 2016. In a blog on <a href="https://yourstory.com/2016/04/peppertap-journey-navneet-singh">YourStory</a>, Navneet Singh, founder of PepperTap, wrote about the problem they faced. “The integration of our app with our partner stores was not great. In the race to pepper the whole country with PepperTap, we had brought too many stores online far too quickly,” he wrote. Another unicorn startup Paytm too had explored the e-grocery space with Paytm Zip, only to shut shop in 2015. So, even with clear failures in the past, what makes today’s unicorns still find their way into the space? A simple answer - the demand still exists. Grocery stores aren’t called convenience stores for nothing. For today’s millennial who is busy with work to order groceries on a tap is an easy, convenient way out. A report on the online grocery space in India by Red Seer consulting states, “Inspite of all these disruptions and changes, one thing that did not change was the massive potential for online grocery- as indicated by India’s USD 500+ Bn grocery market out of which a mere 0.2% is online (~USD 1.2 bn overall and ~USD 1 Bn considering only hyperlocal grocery).” The proof that it still works is seen in BigBasket’s <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/bigbaskets-wholesale-unit-revenue-up-35/articleshow/67358734.cms">revenue</a> report. In the year 2017-18, BigBasket saw its revenue grow by 35% while losses dropped by 53%. In FY19, the company expects the revenue to grow by <a href="https://www.moneycontrol.com/news/business/companies/bigbasket-chief-hari-menon-expects-75-revenue-jump-in-fy19-to-rs-3500-crore-3183251.html">75%</a>. Grofers which had posted a net loss of <a href="https://tech.economictimes.indiatimes.com/news/internet/grofers-narrows-loss-to-rs-258-cr-as-sales-double-in-fy2018/68105608">₹268 crore</a> in FY 17, managed to post a loss of ₹258 crore in FY18. The company has also added <a href="https://www.moneycontrol.com/news/business/grofers-eyes-rs-2500-crore-revenue-in-fy19-adds-2-5-lakh-new-customers-in-january-3453911.html">2.5 lakh</a> new customers in January, while also aiming for a revenue of over ₹2500 crore. And with big backers like Mukesh Ambani and Softbank entering the fray, the competition, too, will be intense. The battle for dominance may mean more discounts and cashbacks for consumers. See Also: <a href="https://www.businessinsider.in/swiggy-in-talks-to-acquire-ubereats-india-operations/articleshow/68110377.cms">Swiggy wants more on its plate, in talks to acquire Ubereats India</a> <a href="https://www.businessinsider.in/for-indian-startups-2018-has-been-a-year-of-bouncing-back-as-venture-capital-funding-doubles/articleshow/67286540.cms">For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles</a> <a href="https://www.businessinsider.in/these-are-the-25-most-sought-after-startups-in-india-report/articleshow/65866420.cms">These are the 25 most sought after startups in India: Report</a>

Online grocers are back in business in India with billions more to burn – and that may be good for consumers

New Delhi, After hacking masked credit and debit card data of crores of Juspay users, the same hacker possibly known as '<keyword id="9206309" type="COMPANY" weightage="20" keywordseo="shinyhunters">ShinyHunters</keyword>' is now selling databases belonging to three more Indian companies on <keyword id="1929208" type="COMPANY" weightage="20" keywordseo="dark-web">Dark Web</keyword>, independent cyber security researcher Rajshekhar Rajaharia claimed on Wednesday. According to Rajaharia who first broke the JusPay hacking, the three Indian companies are e-marketplace <keyword id="2901238" type="COMPANY" weightage="20" keywordseo="Clickindia">ClickIndia</keyword>, <keyword id="2461546" type="DOMAIN" weightage="20" keywordseo="FinTech">fintech</keyword> startup for small business owners ChqBook and wedding planning website WedMeGood. "Nearly 80 lakh users of ClickIndia (name, email, mobile and other personal details), 10 lakh users of ChqBook (name, email, mobile, full address and other personal details) and 13 lakh users of WedMeGood (name, email, hashed password, other sensitive personal information)," Rajaharia told. Like JusPay, these three companies have also not allegedly told the users about the data breach, claimed the security researcher. The names of the three Indian companies were first reported by BleepingComputer website, saying that a "data breach broker is selling the allegedly stolen user records for 26 companies on a hacker forum". ChqBook denied the attack while the other two companies were yet to react to the report. According to <keyword id="10553252" type="UNKNOWN" weightage="20" keywordseo="sonit-jain">Sonit Jain</keyword>, CEO of <keyword id="9727813" type="COMPANY" weightage="20" keywordseo="gajshield-infotech">GajShield Infotech</keyword>, such incidents, once confirmed irrespective of data sensitivity, leaves a negative impression over the digital payment platforms. "Simple data like email ID and phone number which may not look sensitive can turn out to be lethal means of financial fraud at personal level, if fallen in wrong hands," Jain told. Bengaluru-based digital payments gateway JusPay said in an earlier statement that the company verified that their Secure Data Store, which hosts the confidential card numbers, was not accessed or compromised. "Thus, all our customers were secure from any kind of risk. Our priority was to inform the merchants and as a measure of abundant precaution, they were issued fresh API keys though it was later verified that even the API keys in use were safe," the company said. According to Rajaharia, the hacker is the same who leaked <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> data, previously reported by the cybersecurity firm Cyble. In November last year, one of India's popular online grocery stores BigBasket, found that its data of over 20 million users had been hacked and were on sale on the dark web for over $40,000. "Now, the same hacker group is asking about $10,000 in Bitcoin for the BigBasket database and is also selling the three companies' databases," Rajaharia said. "There is a strong connection between all these recent data leaks, including BigBasket," he added. US-based third-party cyber intelligence firm Cyble claimed in its official blog that though the alleged breach occurred on October 14, it detected it on October 30, validated it on October 31 and informed BigBasket on November 1. The user database was estimated to be about 20 million, with names, email ids, password hashes, pin, contact numbers, addresses, date of birth, location and IP addresses of login. JusPay on Tuesday said that about 3.5 crore records with masked card data and card fingerprint were compromised by the hacker and the claim of 10 crore cardholders' data being affected is "incorrect". SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/boat-raises-over-100-million-from-warburg-pincus-analysts-expect-the-headphone-brand-to-double-its-revenue-to-10-billion-this-financial-year/articleshow/80126200.cms">boAt raises over $100 million from Warburg Pincus — analysts expect the headphone brand to double its revenue to ₹10 billion this financial year</a> <a href="https://www.businessinsider.in/tech/news/oneplus-fitness-band-india-launch-date-price-and-everything-you-need-to-know/articleshow/80129498.cms">OnePlus Band India launch date, price and everything you need to know</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-will-stop-working-if-you-do-not-agree-to-its-new-terms-and-privacy-policies/articleshow/80127866.cms">WhatsApp will stop working if you do not agree to its new terms and privacy policies</a> <a href="https://www.businessinsider.in/business/auto/news/toyota-fortuner-suv-2021-launched-in-india-with-new-price-design-and-features-check-details-here/articleshow/80129932.cms">Toyota Fortuner 2021 launched at a starting price of ₹29.98 lakh — here’s all you need to know from looks to specification and features</a>

After Juspay, ClickIndia, ChqBook and WedMeGood have been reportedly hacked — data of over 10 million users up for sale on the dark web

E-tailers like <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart%2C+Amazon">Flipkart, Amazon</a> and <keyword id="964794" type="COMPANY" weightage="100" keywordseo="BigBasket">BigBasket</keyword> want to satisfy their customers by fulfilling their demands on time and for that they need commercial vehicles. They have found a suitable ride in on-demand truck despatch platforms, keeping a closer tab on shipment costs. 
 
Around a dozen <a href="http://www.businessinsider.in/searchresult.cms?query=commercial-vehicle+aggregators+">commercial-vehicle aggregators</a> have sprung up because e-Commerce is appearing as a promising business segment for steady revenues. Their business is to get trucks on a mobile platform and let customers hail away as they would do for a cab. 
 
It is a technology access point for a highly unorganized but lucrative market estimated to be around Rs 39,000 crore ($6 billion), the money aggregately earned by light commercial vehicle operators in one year. 
 While there are seniors in the business like Mumbai's The Porter and Shippr in <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>, Chennai's home-grown player GoGo Truck entered e-Commerce within six months into the business. 
 
GoGo Truck has about 200 trucks on its platform. It is expanding its business into smaller cities such as Coimbatore and Erode. The company has contracts with <a href="http://www.businessinsider.in/searchresult.cms?query=e-Commerce+">e-Commerce</a> majors <keyword id="18635" type="CITY" weightage="100" keywordseo="Amazon">Amazon</keyword> and BigBasket for dedicated trucks. 
 
While Amazon will utilize GoGo Truck for movement between its fulfillment centers, <a href="http://www.businessinsider.in/searchresult.cms?query=e-Commerce+">BigBasket</a> is planning to go beyond — using commercial vehicles for linking the last mile. 
 
Having a dedicated fleet on demand will rid e-Commerce firms of the task of deciding prices with individual fleet owners or last-minute haggling at the eleventh hour. "The advantage in this model is the stability of pricing and tracking. If you need a Tata Ace or an <a href="http://www.businessinsider.in/searchresult.cms?query=Ashok+Leyland">Ashok Leyland</a>…in half an hour, it is possible in this model," says A Vasister, Founder and CEO of GoGo. 
 
Amazon Logistics is working with over one vehicle aggregator helping in transport within, and between, cities. It believes vehicle tracking has levers focused on the customer. 
 
Samuel Thomas, director transportation at Amazon India, is of the opinion that in case of inter-city deliveries, the GPS can be a big game changer as it enables us to track the vehicles' movements and helps in managing and tracking the inventory. “Additionally, it enhances route planning and thereby timeliness of deliveries. We can also keep the customer informed,” he said. 
 
Pranav Goel, the entrepreneur at the helm of The Porter, says his trucks can offer data to clients about the loading and unloading capacities of their hubs. With every stop or breakdown and the idle periods captured real-time, e-tailers can know which hubs suffer delays in cargo handling. 
 
"More hubs mean less visibility at every node of the supply chain. This leads to cost leakages in the system. The data we provide can help them spot congested hubs," said Goel. His company recently completed a Rs 35-crore Series-A round. 
 
(Image: Indiatimes)

Flipkart, Snapdeal and Amazon’s rapid growth is fuelling startups in an unassuming sector

As companies from <keyword id="10926" type="COMPANY" weightage="20" keywordseo="Reliance">Reliance</keyword> to Amazon put their top dollar in serving <keyword id="9999588" type="UNKNOWN" weightage="20" keywordseo="daily-grocery">daily grocery</keyword> at your doorstep, a new report said on Friday that online grocery is going to be the next battleground for growth, expanding to over $18 billion by 2024. According to a joint report by a joint initiative by Bengaluru-based <keyword id="9999587" type="UNKNOWN" weightage="20" keywordseo="market-consulting-firm-redseer">market consulting firm RedSeer</keyword> and <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">Bigbasket</keyword> (Brand Intelligence), driven by the significant rise in organic adoption during Covid-19, <keyword id="8289993" type="COMPANY" weightage="20" keywordseo="egrocery">eGrocery</keyword> has been on a surge with clocking 1.7 times in gross merchandise value (GMV) in June this year as compared to January. Online grocery will remain steady for the rest of the year to reach more than $3 billion, the report mentioned. "The industry has seen more than 70 per cent ARR (annual recurring revenue) jumps in the last quarter across categories. This brings the opportunity to serve a larger set of customers, and some challenges with it," said Hari Menon, co-founder and CEO of BigBasket. The report found that demand for comfort foods like noodles and cookies, immunity boosters like lemon and hygiene products like sanitizers picked up after the pandemic while essentials remained strong. Snacks and branded foods grew by 5 per cent quarterly pre-Covid, however growth jumped to 75 per cent in the June quarter. Within snacks and branded foods, biscuits and cookies was the largest sub-category and grew the most in Q2. Beverages grew by 2 per cent quarterly pre-Covid, however growth jumped to 50 per cent in Q2. "Personal Care grew by 5 per cert quarterly pre-Covid but jumped to 24 per cent in Q2 due to Covid. "We have observed that traditional brands which pivoted quickly to be digitally ready brands have seen 2x+ jump in sales compared to offline brands. We are excited to have this opportunity to serve the ecosystem," said Anil Kumar, founder and CEO of consulting firm RedSeer. Home utilities grew by 6 per cent quarterly pre-Covid but jumped to 11 per cent in Q2. Within home utilities, detergents and dishwash were the largest sub-category but grew the least in the last quarter. According to the report, home utilities were not severely affected by the pandemic. SEE ALSO: <a href="https://www.businessinsider.in/science/news/the-best-wildlife-photos-taken-this-year-reveal-a-pair-of-puffins-fighting-foxes-and-a-perfectly-camouflaged-hippo/slidelist/78297252.cms" data-type="tilCustomLink">The best wildlife photos taken this year reveal a pair of puffins, fighting foxes, and a perfectly camouflaged hippo</a> <a href="https://www.businessinsider.in/tech/news/the-senate-plans-to-subpoena-the-ceos-of-facebook-google-and-twitter-to-testify-before-congress-next-month/articleshow/78302874.cms">The Senate plans to subpoena the CEOs of Facebook, Google, and Twitter to testify before Congress next month</a>

RIL and Amazon are looking at India's $18 billion online grocery market to be their next battleground

<ul><li>After the government in states like Maharashtra, Bihar, Tamil Nadu and Delhi instructed schools, colleges and malls to remain shut till March 31, <keyword id="1640900" type="PERSON" weightage="20" keywordseo="Online-grocery">online grocery</keyword> stores like <keyword id="2466939" type="PERSON" weightage="20" keywordseo="Grofers">Grofers</keyword>, <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> and Supr Daily have seen an upsurge in orders for essentials. </li><li>Online grocery delivery majors have seen an increasing demand for products such as sanitisers, masks, atta &amp; dal, fruits, and vegetables.</li><li>Platforms are also advising customers to avoid using cash, which can be a source of transmitting the virus between individuals. </li></ul>As the number of people infected by Covid-19 keeps increasing with each passing day, there has been an increase in the demand of orders from online grocery stores in the past few days. The government in states like Maharashtra, Bihar, Tamil Nadu and Delhi have instructed schools, colleges and malls to remain shut till March 31. The government is also advising social distancing, with a lot of organisations asking its employees to work from home. The closure of malls, and with it, a lot of supermarkets, has led to a direct increase in the order of staples online. Much like the US and UK, that witnessed a huge surge in online orders for essentials, in India too, a lot of online marketplaces like BigBasket, Future Group and Grofers are witnessing an increase in demand, with most people ordering for staples. Supr Daily, that delivers daily essentials like milk, bread, fruits and vegetables, told its customers that it will deliver till 9 a.m. instead of the usual 7 a.m. due to increased demand. In the past few days, BigBasket has witnessed a 2X increase in its traffic and its revenue. BigBasket said in a statement that they are witnessing a 15-20% increase in the basket value. Increased demand has been for essentials such as staples, atta &amp; dal, fruits, and vegetables. However, it said that it is in control of the supplies, given that a predominant share is from its private label products. The platform is currently not facing any shortage for FMCG branded products except in the case of sanitisers. In the last 30 days, as per Google Trends, there has been a rise in web search for sanitisers. 
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 A spokesperson from the Future Group that owns Big Bazaar and Easyday reported a similar increase in their online orders. "We have seen an upswing in the demand for daily essentials from our customers in certain geographies. We are making sure that we are managing our stocks and supply chain in a way that meets all our customer needs. We are also following and complying with various government/local body directives related to store operations.” While there were a lot of instances of hoarding in the US and UK with a lot of essentials being sold out quickly, most of these platforms haven’t witnessed hoarding yet. BigBasket said, “We are not witnessing hoarding behavior thus far. To our customers, our stance will be not to panic and buy more than what they need. We will gear up for the increased demand and availability of products will not be an issue.” In a note on its website, Grofers asked its consumers to avoid hoarding. “Buy what you need and maybe add some cushioning on top as we will keep working hard to keep items in stock and reasonably priced for all our customers. Excessive buying or multiple orders to bypass inventory limit can lead to order cancellation,” its blog read. Grofers has disinfected its warehouses and is sanitising on a daily basis to keep the inventory virus free. Telling us more about the spike in their business and safety precautions, Albinder Dhindsa, Co-Founder &amp; CEO, Grofers, said, “Over the last couple of days, we have seen customers buying items on our platform in large quantities across cities as well as categories. Mumbai, Bangalore, Pune and Ahmedabad have seen a higher surge with nearly 80% growth followed by Delhi NCR and Hyderabad at a 60% spike in business. We have seen a rise in both the number of orders (45%) as well as order value (18%). Personal hygiene products, followed by floor cleaners have seen a surge in demand along with immunity-boosting products such as chyawanprash and honey. Essential items such as atta, dal and rice are also being bought in large quantities by our customers." Grofers has suspended travel between locations and offices, so each of its 20+ units across the country can stay isolated and clear of the virus. Its supplies are now passing through separate areas, manned by different personnel than those that work in crowds in store. The crates are also being washed and disinfected after every usage. However, a lot of delivery partners are hesitant to come to work. With higher demand and lack of resources, there is a delay in delivery. It is currently 3 days in Delhi and less than 2 days in most other cities. In such a scenario, it is advisable to plan your groceries in advance and avoid dealing in cash as it can be a possible source of transmitting the virus. A spokesperson from Big Basket said that they are working to expedite their product deliveries. “We will face some constraints for a few more days because it takes time to build capacity in terms of storage, delivery fleet and people. Our teams are working hard to streamline this and we will be back on track very soon.” Some platforms have been kind enough to provide essentials at a price lower than its usual market rate. For example, Grofers is selling N95 face masks at Rs 90, when the general market prices are in the range of Rs 450-500.

As malls shut down, online grocery stores in India see a surge in demand

<ul><li>Apart from garments, the company is also planning to launch its footwear brand called Paridhan. </li><li>In January, <keyword id="6356684" type="UNKNOWN" weightage="20" keywordseo="patanjali">Patanjali</keyword> announced a partnership with <a href="https://economictimes.indiatimes.com/industry/cons-products/fmcg/patanjali-to-partner-with-flipkart-amazon/articleshow/62519620.cms">eight major players</a> -- <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, <keyword id="2466939" type="PERSON" weightage="20" keywordseo="Grofers">Grofers</keyword>, Shopclues, BigBasket, 1mg, Paytm Mall and <keyword id="2875740" type="LOCATION" weightage="20" keywordseo="Netmeds">Netmeds</keyword> -- to sell its goods online, </li><li> It has also <a href="https://economictimes.indiatimes.com/industry/services/retail/patanjali-stores-in-airports-soon-across-the-country/articleshow/63475065.cms">teamed up</a> with JHS Svendgaard Laboratories, a manufacturer of oral care products, to set up exclusive Patanjali stores at airports across the country.</li></ul>In a bid to cater to consumer demand, <keyword id="6406649" type="UNKNOWN" weightage="20" keywordseo="Patanjali-Ayurved">Patanjali Ayurved</keyword> plans to foray into garment sales by 2019. Speaking to a group of professionals at the ongoing 'Goa Fest 2018' organised by the Advertising Agencies Association of India (AAAI), co-founder <keyword id="6355107" type="PERSON" weightage="100" keywordseo="Baba-Ramdev">Baba Ramdev</keyword> <a href="https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/baba-ramdev-to-launch-patanjali-garments-in-2019/articleshow/63631770.cms">said</a>, "People are asking me, when are you launching jeans of your company in the market. So, we have decided to launch garment products, including ethnic wear, catering to kids, men and women next year." Since its conception, Patanjali has aggressively, and successfully, permeated most parts of the country with all kinds of products. You name it, they have it: soaps - check, honey - check, ayurvedic medicines - check, cookies - check, Mehandi - check, toothpaste - check, instant noodles - check, 'Shudhi' phenyl infused with cow urine - check. Now with this move, you could soon buy your yoga pants or that trendy pair of ripped jeans at the neighbourhood store or even online. Apart from garments, the company is also planning to launch its footwear brand called Paridhan. In January this year, the company announced a partnership with <a href="https://economictimes.indiatimes.com/industry/cons-products/fmcg/patanjali-to-partner-with-flipkart-amazon/articleshow/62519620.cms">eight major players</a> -- Amazon, Flipkart, Grofers, Shopclues, BigBasket, 1mg, Paytm Mall and Netmeds -- to sell its goods online, with a targeted revenue of over Rs 10000 million crore within the year. It has also <a href="https://economictimes.indiatimes.com/industry/services/retail/patanjali-stores-in-airports-soon-across-the-country/articleshow/63475065.cms">teamed up</a> with JHS Svendgaard Laboratories, a manufacturer of oral care products, to set up exclusive Patanjali stores at airports across the country. Their ability to make inroads into every nook and cranny of India as well as a few neighbouring countries -- Bangladesh and Nepal -- is impressive. In a statement made by Ramdev in January, he said, “We have created capacity of Rs 50,000 crore and we are racing ahead now. Our target is to beat HUL by next year.” Naysayers may find this hard to believe but the company’s FY17 <a href="https://economictimes.indiatimes.com/industry/cons-products/fmcg/page-1-patanjali-plans-to-overtake-hul-by-next-year-not-weighing-ipo-_-1000-crore-online-sales-target-this-year/articleshow/62532371.cms">sales</a> amounted to a Rs 105610 million which is pretty decent considering it is only 12-years-old as opposed to HUL which is 84-years-old and has reported sales of Rs 344870 million - almost three times that of Patanjali but with a head start of 72 years.

Baba Ramdev looks to conquer the fashion world with Patanjali clothing

New Delhi, As the e-commerce battle intensifies in India, with <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword>'s JioMart being the latest major entrant with a massive potential to disrupt the space, the next big thing is the <keyword id="6355447" type="PERSON" weightage="20" keywordseo="delivery">delivery</keyword> of <keyword id="389479" type="PERSON" weightage="20" keywordseo="groceries">groceries</keyword> online and the market size is estimated to grow eight times in the next five years in the country. As companies from Reliance to BigBasket put their top dollar in serving daily grocery at your doorsteps, <keyword id="1640900" type="PERSON" weightage="20" keywordseo="Online-grocery">online grocery</keyword> is going to be the next battleground for growth, expanding to over $18 billion by 2024. The eGrocery market has grown 60% from the calendar year 2020 and is expected to grow 41-49 per cent by the first half of CY21, according to the latest data provided by homegrown consulting firm RedSeer. Another recent report by Bengaluru-based RedSeer and Bigbasket (Brand Intelligence) found that demand for comfort foods like noodles and cookies, immunity boosters such as lemon, and hygiene products like sanitisers picked up after the pandemic while essentials remained strong. Within snacks and branded foods, biscuits and cookies were the largest sub-category and grew the most. "We have observed that traditional brands which pivoted quickly to be digitally ready brands have seen 2x+ jump in sales compared to offline brands," said Anil Kumar, founder and CEO of RedSeer. Now, JioMart is set to take the pole position in online delivery of groceries. "Grocery is the largest retail category. This makes it an important category for retailers and one that is going to drive future growth of online retail sales. JioMart will definitely be a key player in the months to come," said Satish Meena, Senior Forecast Analyst with global market research firm Forrester. Driven by the uptick in online grocery adoption due to the Covid-19 pandemic, "online retail sales will grow at a CAGR of 30 per cent from 2019 to 2024 and reach $359 billion", Meena informed. India is witnessing a surge in demand for online grocery. The latest Reliance takeover of <keyword id="44949" type="COMPANY" weightage="20" keywordseo="Future-group">Future Group</keyword>'s retail business is a major consolidation of organised grocery retail. In terms of grocery retail, the revenue of Reliance Retail in FY20 was Rs 346 billion and that of Future Retail's annualised revenue for FY20 was Rs 100 billion. According to Meena, grocery will also be the category where most marketplaces' investments will be made in the next five years. Reliance Jio's new commerce platform JioMart and Whatsapp will be working closely to create growth opportunities for millions of Indian small merchants and kirana shops, <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> (RIL) Chairman Mukesh Ambani said recently. In India, there are more than 15 million monthly WhatsApp Business app users, and more than 400 million overall users. Reliance aims to integrate JioMart in WhatsApp within the next six months. The Covid-19 induced lockdowns and social distancing led to a surge in online orders for groceries, driven by utility as 80% of those who ordered online during lockdown did it for convenience as opposed to price and selection. According to a survey by LocalCircles, 52% online grocery shoppers found the e-commerce grocery apps useful during lockdown. As many as 32% online grocery shoppers placed one or more orders every week during the lockdown while 38% found fruits and vegetables delivered via e-commerce grocery apps to be of poor quality. A recent Bernstein report said that Reliance is "best positioned in new commerce, digitising neighbourhood stores, and e-commerce apps (JioMart and AJIO)". SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-shares-are-down-32-from-the-peak-post-listing-analysts-say-it-is-still-overpriced/articleshow/80430865.cms">Mrs Bectors shares are down 32% from the peak post listing — analysts say it is still 'overpriced'</a> <a href="https://www.businessinsider.in/policy/economy/news/recession-in-india-will-end-latest-by-march-says-a-top-economist/articleshow/80399198.cms">Recession in India will end latest by March, says a top economist</a> <a href="https://www.businessinsider.in/tech/news/amazfit-smartwatch-gts-2-review-feature-rich-but-theres-still-room-for-improvement/articleshow/80398998.cms">Amazfit GTS 2 review – feature-rich, but there’s still room for improvement</a>

Online Grocery market estimated to grow eight times in 5 years in India, JioMart big gainer

<ul><li><keyword id="3360525" type="PERSON" weightage="20" keywordseo="Alibaba-Cloud">Alibaba Cloud</keyword> is looking to expand its market in India and one-up its competitors.</li><li>It’s looking to do it in the most Chinese way possible, keeping its product flexible and cheap.</li><li>Although Alibaba Cloud in the process of wooing a few digital companies away from Amazon Web Services (AWS) — it’s now looking to get bigger companies on board.</li></ul>Alibaba Cloud is looking to expand its market in India. In a lot of ways, the company’s <keyword id="140601" type="COMPANY" weightage="20" keywordseo="database">database</keyword> management solutions aren’t all that different — but is already wooing away new-age digital companies like Zomato, <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> and <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> from Amazon Web Services (AWS). Now, it is now looking to get bigger companies on board. The selling point for Alibaba Vice President Feifei Li is not very different from any other Chinese business ⁠— flexible and cheap. "Both (AWS Aurora and Polar DB) use shared storage architecture, which can serve up to 100 TB (terabytes) of data — but if you want to scale beyond that, like during a massive e-commerce operation, they need scalability beyond what shared storage can offer," Li told Business Insider. And, according to him, it costs a tenth of the AWS’ cloud services. But AWS doesn't agree. "It is inaccurate to say that PolarDB is available at a tenth of the cost as Amazon Aurora. If you consider a top of the line instance size, Amazon Aurora is still cheaper than PolarDB with more VCPUs (6 more VCPUs) on offer, and a secure virtualization platform (R5 instances powered by the AWS Nitro System)," the company told Business Insider. It also pointed out that even though Zomato, Paytm and BigBasket are on Alibaba Cloud, they're also using AWS simultaneously for other services. Li is in India to sell Polar DB, Alibaba Cloud’s relational database — a database in which a lot of different data sets can be compared and re-assembled without having to reorganise storage. Amazon’s customers, Alibaba-backed companies Currently, most of the company’s clients are small and medium enterprises (SMEs) — but most of the revenue comes from large companies. "We already have quite a few large businesses like <keyword id="96306" type="CITY" weightage="20" keywordseo="Reliance-Entertainment">Reliance Entertainment</keyword> and helped them launch across 150 countries," said Alex Li, General Manager of Alibaba Cloud South Asia. So, Alibaba Cloud’s real test will be when it tries to woo its next set of clients. Out of the four big names highlighted by Li, Alibaba Group has stakes in <a href="https://www.businessinsider.in/paytm-mall-completes-450-million-funding-round-from-softbank-and-alibaba/articleshow/64569914.cms">Paytm</a> and <a href="https://www.businessinsider.in/bigbasket-joins-unicorn-club-with-a-fresh-investment-of-150-million/articleshow/68624890.cms">BigBasket</a>. As Alibaba Cloud tries to woo Amazon’s customers, these are its major promises: <ol><li>It’s flexible. PolarDB addressed nearly 87 million requests per second during peak traffic helping Alibaba’s <a href="https://www.businessinsider.in/alibaba-just-had-the-biggest-online-shopping-day-of-all-time-nearly-tripling-every-companys-2017-black-friday-and-cyber-monday-sales-combined/articleshow/66580674.cms">11:11 Single Day</a> sale in China, which clocked a <a href="https://www.businessinsider.in/tech/news/alibaba-leaders-deny-sensational-claims-made-in-viral-weibo-post-that-said-the-chinese-e-commerce-giant-misreported-its-singles-day-sales/articleshow/72117515.cms">record-breaking</a> gross of <a href="https://www.businessinsider.in/retail/news/chaotic-photos-show-what-it-looks-like-when-alibaba-sells-38-billion-worth-of-merchandise-on-chinas-biggest-shopping-holiday-and-breaks-records/articleshow/72028088.cms">$38.4 billion</a>, according to the company.</li><li>It’s cheap. Li says the PolarDB is available at a tenth of the cost as AWS Aurora.</li><li>It’s tried and tested. "Not only do we have cloud database as a service, but we also provide database infrastructure for the entire Alibaba Group. That really helps us strengthen our technology and mature our product before we offer it to our customers," he explained.</li><li>It is fully compatible with MySQL. This is <a href="https://www.gartner.com/en/documents/3947472/magic-quadrant-for-cloud-infrastructure-as-a-service-wor">an important capability </a>since more businesses are already integrated with one type of database or another. Compatibility ensures that they can easily transfer their data and processes from one platform to the next. </li><li>Security. "We have some unique strengths, that Microsoft, Google and AWS don’t have. For example, we have a product called AllEncrypted. It combines database kernels with security software like Intel SGX. It allows the customer to encrypt their data using a private, secret key — and they don’t have to share that key with us," said Li.</li><li>Keep tabs on data. In the near future, blockchain technology will be integrated, which will allow authentication of the data through database logs.</li></ol>Alibaba Cloud is focusing all of its energies on India, and for good reason. Not only are local businesses looking to shift to the cloud rather than set up their own servers, but India’s impending <a href="https://www.businessinsider.in/policy/news/indias-new-data-protection-is-in-the-works-and-companies-will-only-have-to-pay-2-million-for-violations/articleshow/72381112.cms">Personal Data Protection Bill</a> is likely to push for <a href="https://www.businessinsider.in/tech/news/data-localisation-wont-help-local-firms-or-improve-privacy-but-it-could-cost-india-43-billion/articleshow/72251167.cms">localisation</a> — and Alibaba already has two data centres in the country. See also: <a href="https://www.businessinsider.in/tech/news/data-localisation-wont-help-local-firms-or-improve-privacy-but-it-could-cost-india-43-billion/articleshow/72251167.cms">Data localisation won't help 'local' firms or improve privacy — but it could cost India $43 billion</a> <a href="https://www.businessinsider.in/whatsapp-data-may-shift-to-the-cloud-but-may-no-longer-be-as-encrypted/articleshow/65475359.cms">WhatsApp data may shift to the cloud, but may no longer be as encrypted</a> <a href="https://www.businessinsider.in/tcs-and-cisco-join-hands-for-a-new-cloud-product/articleshow/70673984.cms">TCS and Cisco experimented a cloud service with a large insurer — and now they are ready to launch</a>

You Searched For "BigBasket revenue" and got 11 results

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

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Grofers delivers a funding at the door of the unicorn club

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BI India Bureau

RIL and Amazon are looking at India's $18 billion online grocery market to be their next battleground

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As malls shut down, online grocery stores in India see a surge in demand

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Baba Ramdev looks to conquer the fashion world with Patanjali clothing

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