BigBasket is in talks to raise between $300 million and $500 million from Alibaba and new investors. BigBasket, which raised $300 million from Alibaba Group Holding Ltd and others in February, is in talks to raise between $300 million and $500 million from Alibaba and new investors, the people cited above said, adding that the talks are at an initial stage. “For BigBasket, it makes sense to take advantage of the funding environment and raise money while it can,” said. BigBasket had previously raised $150 million from investors such as Sands Capital, International Finance Corp. and Dubai-based private equity investor Abraaj Capital and is easily the most well-funded grocery start-up in the country. The Bengaluru-based start-up, which was valued at $950 million after its last fundraise, was founded in December 2011.

Source: Mint May 07, 2018 18:22 UTC