BigBasket Raises $150 Million Led By UAE’s Abraaj Group

BigBasket has raised $150 million led by UAE’s Abraaj Group. Existing investors including Bessemer Venture Partners, Helion Advisors, International Finance Corp and Sands Capital also participated in the round. The raised funds will be used for expansion.

BigBasket Acquires Delyver; Adopts New Logistics Model To Enter Tier II Cities

The company will setup 10 small warehouses in each of the large cities it is present in, and one each in the 50 Tier II cities it plans to enter. These dark houses will help the company also serve hyperlocal demand and fend of rivals such as Grofers and PepperTap. BigBasket will enter Mysore, Coimbatore, Madurai, Trichy, Vijayawada and Visakhapatnam as soon as next week.