BigBasket raises $150 million in latest funding, attains unicorn status

Online grocery delivery startup BigBasket has raised $150 million (about Rs 1,040 crore) in a fresh round of funding led by Alibaba and South Korean firm Mirae Asset, which will give the company a unicorn status.

The fundraising is a part of Bengaluru-based company's new series F financing round.

The largest shareholder of BigBasket, Alibaba will invest $50 million in this round, while Mirae Asset will put in $59.9 million, the company said in a filing with the Registrar of Companies (RoC).

UK government-owned financial institution CDC Group will invest $40 million, it said.

After the latest investments, Alibaba will hold 26.26 percent stake, while Mirae Asset and CDC Group will own 5.31 percent and 3.54 percent, respectively in BigBasket.

In February last year, the BigBasket has raised $300 million in its Series E round of funding led by Alibaba.

BigBasket, founded in December 2011, claims more than 10 million subscribers and close to 1 lakh orders per day.

Last year, BigBasket had acquired Pune-based RainCan and the Bengaluru-based Morning Cart to deliver milk to 20,000 customers.