|
Alibaba.com Singapore Ecommerce Pvt Ltd led the $196.7 million
Series E funding round, which was approved by the BigBasket
board in January, regulatory filings seen by Reuters on Friday
showed.
Online grocery sales are fast becoming popular in India, with
BigBasket, SoftBank-backed rival Grofers and Amazon's India unit
vying for a bigger piece of the market.
Sands Capital Pvt Growth Ltd, International Finance Corp and
Abraaj Basket I Pvt Ltd also participated in the latest funding
round.
Founded in 2011, Bengaluru-headquartered BigBasket services more
than 6 million registered customers across 26 Indian cities.
Through its units, Alibaba holds various investments in India's
growing online retail space, including a stake in the parent of
mobile payments provider Paytm.
(Reporting by Sankalp Phartiyal; Editing by Amrutha Gayathri)
[© 2018 Thomson Reuters. All rights
reserved.] Copyright 2018 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
 |
|
