E-grocer BigBasket raises $300 mn from Alibaba, others

Bengaluru Feb 2 (IANS) India s leading online grocer BigBasket on Friday said it has raised $300 million from Chinese e-commerce giant Alibaba and other investors.

"We have raised $300 million in the latest funding round led by Alibaba and other investors " BigBasket said in a statement here.

The company s statement however did not mention which round of funding the latest is.

"The funds will be directed towards improving our technological analytical and infrastructural abilities all of which enable the company to grow " the company s Chief Executive Officer (CEO) and co-founder Hari Menon said in the statement.

Currently BigBasket operates in 30 cities in the country with its headquarters here in Bengaluru.

For its future strategy the company is focusing on increasing its customer base in the cities that it is present in and expanding to other cities

--IANS
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