BigBasket gets $150 million in funding, becomes the latest unicorn

Deal marks Mirae's largest investment in internet sector; Alibaba continues to support firm in new round of financing

Mirae Asset-Naver Asia Growth Fund (Mirae-Naver), a leading investor operating in global growth markets, the UK Government’s development finance institution,CDC Group, and Alibaba Group said on Monday they have led a $150-million round of fundraising for Supermarket Grocery Supplies (SGSPL), which owns the Bigbasket brand.

The round values Bigbasket at over $1 billion, according to the company, making it the newest Unicorn out of India. Business Standard first reported the deal on March 28.

The financing round, which Mirae-Naver has led through one of its funds, marks the group’s largest investment in India. Mirae Asset-Naver Asia Growth Fund is a joint venture