Bigbasket turns unicorn with $150-mn funding; valuation jumps over twofold

Bigbasket has just sealed a Series F round at an estimated valuation of around $2.3 billion

Yuvraj Malik Bengaluru
Hari Menon, Bigbasket CEO

Hari Menon, Bigbasket CEO

In a major boost to the start-up ecosystem, two of India’s promising start-ups joined the elite unicorn club in a matter of one week. 

Bigbasket, a leading online grocery delivery firm, has just sealed a Series F round at an estimated valuation of around $2.3 billion — over twofold jump, when compared with its last reported valuation of $950 million.

The Bengaluru-headquartered company has raised a total of $150 million (approximately Rs 1,000 crore) in this round, from new and existing investors, company filings sourced from business intelligence platform, showed.

The round was led by existing investor Alibaba, a Chinese e-commerce giant, while Seoul-based financial services group Mirae Asset, and CDC Group, a development finance group linked to the UK government, also participated. 

While Mirae put in around $60 million, Alibaba pumped in around $50 milli

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First Published: Mar 28 2019 | 11:51 PM IST

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