The Bengaluru-based firm posted a 34.54% rise in revenue to Rs 1,583.15 crore for the year ended March 2018.
As the competition in the e-grocery segment gets more intense, online supermarket BigBasket is raising around $149 million from investors led by existing backer China-based Alibaba, valuing the firm at an estimated $2.28 billion, according to documents sourced from business signals platform paper.vc.
The Bengaluru-based firm posted a 34.54% rise in revenue to Rs 1,583.15 crore for the year ended March 2018. The company’s FY18 losses narrowed by 52.51% to Rs 310 crore. Earlier this month, Gurgaon-based Grofers raised close to $60 million in fresh funding led by SoftBank Vision Fund, valuing the firm at an estimated $424.84 million.
BigBasket that sells fresh vegetables and fruits to packaged foods has recently forayed into the beauty segment. According to market intelligence provider Kalagato, BigBasket commanded 35.2% of the online grocery market as of March 2017, followed by Grofers at 31.5%.
The investment in BigBasket has been made by Alibaba.com, Singapore e-commerce and three new investors — Mirae Asset Naver Asia Growth Investment, Mirae Asset GS Retail New Growth Fund and CDC Group — also participated in the round, documents showed.