Alibaba's twin investments: BigBasket gets $200 mn and $150 mn for Zomato

Info Edge India said it will sell 6.7% stake in food delivery firm Zomato to Ant Financial, Alibaba Group Holding's payment affiliate, for $50 mn

Chinese Internet giant Alibaba Group is shoring up on its investments in India’s e-commerce space leading a $200 million funding round in online-grocer BigBasket and has signed a pact with Zomato to pump $150 million into the online food ordering company.

Alibaba led the Rs 12.6-billion ($200 million) investment in BigBasket fronting nearly 75% of the capital, while existing investors Abraaj Group, Sands Capital and International Finance Corporation have put in the rest. The money is said to be part of a $300-million round the Bengaluru-based company is raising as part of its Series E round.

With the capital, BigBasket