Online grocery shopping service BigBasket has secured $32mn funding from Helion venture partners and Zodius. BigBasket had earlier raised $10mn from Ascent Capital in 2012.
“BigBasket CEO Sudhakar said that the capital raised would be used to expand operations to top 10 cities by December 2015, even as Mukesh Ambani’s Reliance Industries Ltd prepares for an e-commerce entry through online grocery sales. Existing investors Ascent Capital and LionRock capital, a Singapore based fund floated by former Goldman Sachs banker Hari Kumar, participated in the latest round of funding.”[source]
BigBasket currently clocks 5,000 orders per day and this funding comes at a time when Reliance has announced plans to enter online grocery space.
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