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Bigbasket Says It Has Raised $300 Million in a Round Led by China's Alibaba

It also added that it has signed Bollywood superstar Shah Rukh Khan as brand ambassador for the third year in a row.

The funds will be directed towards bettering our technological, analytical, and infrastructural prowess, all of which will enable the company to move up the curve.”

Amazon, which in June acquired specialty grocer Whole Foods Market Inc in the US, also got the government’s nod to invest $500 million (roughly Rs.

3,200 crore) into food retailing in India in July last year, and has been expanding its Amazon Now offering, and has opened its own Now Store for fulfilling grocery orders.

Other players in the space include Grofers, which received a clearance for FDI of $25 million (roughly Rs.

READ MORE (Brinkwire (press release))

  • Bigbasket raises United States $300 million from Alibaba, othersGkMen
  • BigBasket raises $300 mn funding led by AlibabaІnsіdеr Cаr Nеws
  • Alibaba deepens India push with BigBasket investmentThe Daily Star
  • Alibaba backs Indian online grocer BigBasket in $300 million fundraisingYahoo News UK
  • Alibaba Invests $146 Million In
  • Alibaba leads $300 mn funding in bigbasketThe Hindu
  • China's Alibaba leads BigBasket's $300-million funding roundNewsBytes
  • With latest funding, Bigbasket aims a turnover of INR 2200 CroresThe Indian Wire
  • BigBasket raises $300 mn from investors led by Alibabadomain-B

This post first appeared on The 5th News, please read the originial post: here

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Bigbasket Says It Has Raised $300 Million in a Round Led by China's Alibaba


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