FRESHO STORE
Exclusive | BigBasket raises $200 million from Tata Digital, others; valuation hits $3.2 billion
CEO Hari Menon outlines quick commerce expansion, bringing 1mg on its app . The funding takes e-grocer’s valuation to $3.2 billion.
BigBasket looks to raise $200 million at up to $3.5 billion valuation
“The company continues to grow 40% annually as projected earlier internally. This financial year ending March 2023, the company is expected to generate sales of $1.5 billion (net of discounts),” said one of the people cited above. ET had reported that it became the second vertical ecommerce player to have crossed gross sales of $1 billion in FY21.
BigBasket gets Rs 1,000 crore investment from its holding company
Tata Digital owns an around 64% stake in Supermarket Grocery. Innovative Retail Concepts was made a subsidiary of Supermarket Grocery after Tata Digital acquired the BigBasket operator, ET had reported in October last year.
Lenskart eyes $250M funding; BigBasket bags Rs 1,000 crore; N Chandrasekaran is Tata Digital chairman
Lenskart, the omni-channel eyewear retailer, is in advanced talks to raise a quarter of a billion dollars from Alpha Wave and others at a valuation of up to $5 billion. But its IPO plans, like those of other startups, are on hold until market conditions improve.
Amid a 10-min rush, BigBasket plans one-hour delivery with more products on offer
The service will be launched next month and will be powered through the company’s 62 large-scale dark stores, cofounder and chief executive Hari Menon told ET. Delivery from these warehouses will be mostly through bikes.
April IPL bash may see Tata Neu app debut
Tata Group is expected to make an official announcement on Tata Neu's launch to all consumers on April 7, people aware of the matter said.
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BigBasket acquires Kerala-based startup Agrima Infotech
BigBasket will be implementing Kochi-based startup Agrima Infotech’s unique customer vision technology platform, Psyight, at the self-checkout counters of the former’s retail stores.
NewQuest, Premji invest Rs 507 crore in startup iD Fresh Food
Asia's leading PE firm NewQuest Capital Partner, along with the existing investor, PremjiInvest, invested Rs507 crore in iD Fresh Food—India’s leading fresh food startup.
Tata's super app delayed again, launch likely in March
Tata Digital, they said, is keen to correct current glitches in the app which has been rolled out on a trial basis amongst its huge employee base, including the top management cadre of group entities.
Croma could soon come under Tata Digital
The aim is to bring consumer-centric businesses under one roof with change in the shareholding of Infiniti Retail, owner of Croma.
India-born Parag Agrawal Is Twitter CEO; RBI's crypto moves
In a surprise move, Jack Dorsey said on Monday that he was stepping down from Twitter and handing over the reins of the company he cofounded to India-origin Parag Agrawal.
Tata-owned 1mg, PharmEasy go offline for omnichannel presence
Tata-owned 1mg is set to open its first physical store in Gurugram next month while rival PharmEasy has started to expand across the offline channel through franchise stores.
BigBasket jumps into buzzy quick delivery segment; will bring all grocery services in one app
BB Now, expected to be launched around the middle of December, will be part of BigBasket and the company has also started work to bring its subscription-based essentials delivery service, BB Daily, on to the main app.
Udaan gets going on groceries; crypto players feel the heat
Scrappy B2B ecommerce upstart Udaan and Tata Digital-owned BigBasket are taking different approaches to corner as much as possible of India’s burgeoning online grocery space.
Dream Sports valuation hits $8B; crypto investors panic
India’s gaming firms raised $549 million in the first quarter of 2021, more than in all of 2020, according to a report by Boston Consulting Group and Sequoia.
BigBasket to open 200 Fresho stores pan-India by FY23
The Bengaluru-based online grocer aims to increase that number to 800 stores by 2026, its cofounder and CEO Hari Menon said.
Alibaba all set to put $300 million in BigBasket
The deal price was expected to be about $200 mn. This has since increased as BigBasket looks to build a bigger war chest to compete with US-based Amazon as well as India’s Flipkart.
Paytm Mall in talks to invest $200 million in BigBasket
BigBasket is seeking a pre-money valuation of at least $550 million. The company was valued at about $450 million when it raised capital in March, 2016.
E-grocer BigBasket starts selling to kiranas and hotels
The development comes about two months after it launched its specialty food business under the marketplace model.
BigBasket set to close Rs 800 crore funding
BigBasket’s valuation was pegged at Rs 2,100 crore, or about $320 million, ahead of the transaction, show filings submitted to the ministry of corporate affairs on November 30.
Is organic food that you eat free of synthetic pesticides & chemical fertilisers?
In the wake of the recent Maggi imbroglio and concerns over contamination of food, more retailers have begun asking for documentation about organic certification.
BigBasket, LocalBanya expect contribution from private labels to rise up to 50% through staples and FMCG
Private labels in daily household, personal care and food products are soon expected to drive nearly half the sales for online grocers.
Online grocer BigBasket plans to work with offline partners to secure its delivery dominance
BigBasket will also establish cobranded pickup points as well as sell its own brand of gourmet staples at its partner stores, aiming for significantly higher margins from this category.
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