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BigBasket raises $150 million in funding to expand services in smaller cities

The online delivery service raised funds through UAE's Abraaj Group

Reuters  |  Mumbai 

Grocery delivery service BigBasket has raised $150 million in fresh funding in a round led by UAE's Abraaj Group as the company looks to expand its services into smaller cities, the investor said. Existing investors Bessemer Venture Partners and Helion Advisors along with International Finance Corp and Sands Capital participated in the round, Abraaj said in a statement. Online grocery sales is a fast-growing segment in India's e-commerce industry as more consumers log in to the Internet for their purchases. Rival Grofers, an app-based service that connects local ...

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First Published: Tue, March 22 2016. 01:36 IST