Business, Ecommerce

Big Basket Approaching Break Even in Bangalore; Looking to raise INR 200 Cr; Awaiting PM’s Approval

In a report by Times of India earlier today, Big Basket is looking to raise upto INR 200 crores, and already has 3-4 bidders waiting for FDI in e-commerce nod from Mr. PM.

The company has indicated near break even in Bangalore which could be a positive sign for online grocery industry, pegged to grow over 30% in India and globally to reach USD 36 Billion

Also Read: Online Grocery: Why it’s a Great Opportunity? Why it’s Still Nascent?

Online grocery in India has grown locally in cities. Only Aaramshop because of its unique kirana aggregation model could scale to 35 cities while other including Big Basket struggle to go beyond 3-4 cities.

Below is a table by Money Control that has aggregated around some of the different online grocery stores available in table

Have content to share? Share with us for review