New Delhi, February 03, 2018: In a major step that will further its growth, bigbasket, India’s largest online supermarket with over 20,000 products from over 1000 brands, has raised 300 million dollars in a fresh funding round led by Chinese e-tailer Alibaba and other investors.
bigbasket operates in 30 cities clocking Rs 200 crore in terms of monthly run-rate.
This is expected to increase to Rs 300 crore in August and Rs 500 crore in March 2019.
India’s retail market is worth over 900 billion dollars and grocery shopping accounts for about 600 billion dollars of that, a segment that bigbasket is adeptly handling.
The company’s brand ambassador for the past two years, Shahrukh Khan, has also extended his agreement with bigbasket for the third year, another move geared towards its increasing popularity as the largest grocery e-tailer.