BigBasket in Plans to Raise $200 Million at a $3.5 Billion Valuation

BigBasket is an online grocery and food store that delivers personal and household goods right to customers’ doors. Customers can look through the variety of goods on the company’s webpage, order them, and receive them at a convenient time. BigBasket, in its turn, safely handpicks and packages each product, then delivers an order to customers.

The investments will highly likely come from Tata Digital, as well as existing shareholders. The size of investments has not been already finalized. However, it will be not less than $200 million.

BigBasket, Bangalore, India, was founded by Abhinay Choudhari, Hari Menon, Vipul Parekh, VS Ramesh, and VS Sudhakar in 2011. In February, 64.3% of BigBasket was acquired by Tata Group. The current CEO of BigBasket is Hari Menon, who also serves as the CEO of IndiaSkills, Co-founder of Fabmall, Country Head at Planetasia, and Business Head at Wipro. As of now, BigBasket sells more than 18 000 products of over 1000 brands. All range of products needed is presented – fruits and vegetables, rice and dals, spices and seasonings packaged products, beverages, personal care products, and meats.

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