Online grocery store BigBasket has raised `45 crore from venture debt firm Trifecta Capital to meet the capital expenditure requirements of the company.
Online grocery store BigBasket has raised `45 crore from venture debt firm Trifecta Capital to meet the capital expenditure requirements of the company. BigBasket plans to set up new warehouses, strengthen the cold chain and set up facilities for reprocessing of fruits and vegetables, Trifecta Capital and BigBasket said in a joint statement on Friday.
“We are present in 25 cities and continue to optimise our supply chain. We are in the last leg of a pilot which will ensure that all fruits and vegetables are maintained at constant temperature and thereby improve shelf life of the produce by almost 10 days. This will be done using large scale equipment such as pre-coolers and ventilators,” Hari Menon, co-founder, SuperMarket Grocery Supplies Pvt Ltd said. Funding such capital requirements is best done through debt, he added.
You might also want to see this:
BigBasket is the largest online grocery store in the country. The five founders have significant offline and online retail experience having previously built Fabmall and Fabmart-Trinethra.