ETtechETtechOnline grocer BigBasket has begun the process for a new round of funding that is likely to value the Tata Digital-owned firm at around $3-3.5 billion, said three people briefed on the matter. BigBasket's latest financing is likely to come from Tata Digital and existing shareholders. BigBasket’s last primary transaction valuation was $2 billion in May last year, soon after Tata Digital’s majority acquisition of the company.“After 1mg (which got $41 million in funding), BigBasket is also working on a new cash infusion. It will happen at a pre-money valuation of around $3.2-3.3 billion,” said one of the people mentioned above. Sources said that there are no secondary share sales happening in the latest funding round.

Source: Economic Times September 27, 2022 22:37 UTC