Online Grocery Store BigBasket in Talks With PremjiInvest to Raise $50M

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Bengaluru-based online grocery store, BigBasket.com is in talks with PremjiInvest to raise $50 million in series C round. According to senior investment bankers who are familiar with the matter, the deal is expected to be wrapped with in three months.

In September 2014, the firm had raised USD 32 million in funding led by Helion venture Partners and Zodius. It has expanded into Mumbai, Hyderabad, Pune, Chennai and also plans to enter Delhi in the coming months. Bigbasket.com covers categories such as Staples & Provisions, Fresh Fruits & Vegetables, Toiletries, Branded Food & Non-Food products, Bread & Bakery Products, Dairy Products, Frozen Foods such as Ice Creams etc.

BigBasket is competing with other online grocery startups like Grofers, PepperTap, LocalBaniya etc.and even the online marketplaces like Snapdeal, Amazon and Flipkart which have entered this segment.

Its competitor in the niche grocery eCommerce space, ZopNow secured $10 million (Rs. 62 crores) to expand to more cities in India, and PepperTap raised a $10 million series A funding from Sequoia Capital and SAIF Partners. Grofers too added additional $35 million to its coffers from Tiger and Sequoia in Series B funding.

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