BigBasket raises $150m in funding, targets profitability this year

Date posted: Tuesday 7 May 2019

Supermarket Grocery Supplies, which owns and runs BigBasket, has closed $150 million in funding led by Mirae Asset-Naver Asia Growth Fund, Alibaba and UK government-owned CDC Group. BigBasket will operationally break even in six-eight month once it hits the $800-million revenue run rate. The idea is to optimise supply chain, technology, reduce logistics costs and improve margins from its fresh and wholesale business.

(Economic Times)