BigBasket, a Bangalore-based online grocery retailer, has raised the amount of Rs 200 crore in a funding round led by Helion Ventures and Zodius Capital.
Existing investors Ascent Capital and LionRock Capital also participated in the round which saw the valuation of the two-year-old startup cross $100 million (Rs 600 crore).
The Bangalore-based firm, which is also present in Mumbai and Hyderabad, will use the funds to expand to 10 cities by December next year. It plans to expand to Pune and Delhi within six months.
“This is a billion dollar opportunity, you need to have depth of funding to do full justice to the market,” said VS Sudhakar, cofounder of BigBasket. “It is very logistics intensive, we control it up to the last mile.”
With over 12,000 products and over a 1,000 brands, BigBasket delivers food items such as fruits, vegetables, bakery, dairy products and frozen foods, to customers.
Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, BigBasket, Bangalore, Online Grocery Retailer, Online Grocer, Helion Ventures, Zodius Capital, Ascent Capital, LionRock Capital, Mumbai, Hyderabad, Pune, Delhi, VS Sudhakar, Fruits, Vegetables, Bakery, Dairy Products, Frozen Foods.