Bengaluru: Bessemer Venture Partners leads a $50 million Series C funding round in BigBasket.com, a Bengaluru-based online grocery startup. The fund will back the company's aim of extending its presence to 50 new Tier-II cities and establish a warehousing facility in each of these cities, while also setting up 10 warehouses in each of the metros in India.
This is BigBasket’s third fundraising; the previous ones being $32.8 million in Series B round from ICICI Venture and Zodius Capital and $3 million seed funding from unnamed investors in 2014. The company has raised a total of $85.8 million since its inception in October 2011and the latest financing values the startup at around $400 million.
The contrivance of VS Sudhakar, Hari Menon, Vipul Parekh, VS Ramesh and Abhinay Choudhari, BigBasket is India’s leading online grocery store which sells over 10,000 products from more than 1000 brands. These products are listed under separate categories like fruits & vegetables, grocery, meats, kitchen appliances, personal care and many more. It currently operates in Bengaluru, Mumbai, Pune, Chennai, Delhi and Hyderabad and claims to handle over 6,000 orders daily, with an average order size of Rs.1500.