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BigBasket likely to enter unicorn league after next fund raise, says report
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Online grocery startup BigBasket is likely to enter the unicorn league after a new $150 million funding round, The Economic Times reported, citing sources. The pre-money valuation of the company will touch $1 billion, the sources rold the paper, adding that the e-tailer’s existing investor backer Alibaba will infuse $50 million. New investors, South Korea’s …
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Online grocery startup BigBasket is likely to enter the unicorn league after a new $150 million funding round, The Economic Times reported, citing sources.
The pre-money valuation of the company will touch $1 billion, the sources rold the paper, adding that the e-tailer’s existing investor backer Alibaba will infuse $50 million.
New investors, South Korea’s Mirae Asset Global Management and UK Government-owned CDC are also taking part in the funding round, said the sources.
“For CDC, an investment in BigBasket would make sense, as they have a developmental angle through farming and sourcing the company does to procure products. There is a possibility that CDC may buy a chunk of secondary shares as well, from existing shareholders,” people familiar with the matter told the paper.
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