• Chethan Machaknur

BigBasket in talks for $400Mn round

Online grocery retailer BigBasket is in discussions to rope in a bunch of new investors like Singapore government’s Temasek, US-based Generation Partners, Fidelity and Tybourne Capital, for a $350-400 Mn financing round, two people in the know said

BigBasket, which has gained traction on the back of the pandemic as consumers purchase grocery and everyday essential online, is likely to see its valuation gain about 33% to around $2 Bn, post the investment.

Alibaba, which is a significant investor in the Bengaluru-based company with an around 28% stake, is not pumping any new capital in the e-grocer amid a larger anti-China sentiment and FDI restrictions enforced by the Indian government, which have affected Chinese money coming into domestic firms.

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