Online Grocery Store, BigBasket secures $10mn from Ascent Capital

Online grocery store, BigBasket has raised $10mn from Ascent Capital. On the lines of Webvan, BigBasket has delivery vans that deliver groceries across Bangalore city. The delivery vans  are fitted with multi temperature reefer units and cold storage devices which maintains frozen and chilled range temperatures, to keep the products fresh.

The most notablet part about BigBasket is the founding team, i.e. V S Sudhakar (Fabmart), K Ganesh and Meena Ganesh (of Tutorvista).bigbasket_vanAs far as number of transactions are concerned, BigBasket caters to 300 daily transactions with average billing of Rs 1,200 (via) and stocks about 7,000 stock-keeping units (plus private labels for most staples with direct sourcing deals).

Another startup, TheIndiaMarket which was offering similar services has now hit the deadpool.

Data: What sells in online grocery category? Customers spend twice as much on cleaning toilet over teeth [from Zopnow].

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