BigBasket to invest $100mn to strengthen supply chain

Alibaba-backed company BigBasket is pumping in USD 100 million (about Rs 698 crore) to strengthen its supply chain by setting up vending machines and smaller distribution centres across various cities it operates in.

The online grocery platform — which is registered as Supermarket Grocery Supplies — had recently raised USD 150 million in funding, led by Mirae Asset-Naver Asia Growth Fund, CDC Group and Alibaba Group.

Founded in 2011, BigBasket operates in 25 Indian cities. It plans to utilise the proceeds of this fundraising – which has placed the Bengaluru-based company in the unicorn club (companies with valuation of USD 1 billion and above) – to further penetrate into existing markets with more investments in the first mile, scaling-up of its supply chain and for developing new reseller channels.