big basket | Pixr8 News

Tata Group to acquire 68 percent stake in BigBasket for $1.3 billion

16Feb By reutersNo Comments

ACQUISITION

Tata Group to acquire 68 percent stake in BigBasket for $1.3 billion

Mumbai, Feb 16th, 2021: India's Tata Group will buy a 68% stake in online grocery startup BigBasket for $1.3 billion (about Rs 9,500 cr), television channel ET Now said on Tuesday, citing sources. The salt-to-software conglomerate has been planning to launch a "super app" that will tie in all its consumer businesses, according to media reports, as it competes against Amazon.com Inc and Reliance Industries Ltd in India's booming e-commerce market. Bengaluru-based BigBasket competes with Walmart Inc-owned Flipkart and Amazon's "Fresh" service as more consumers stay indoors and choose to shop online during the COVID-19 pandemic. Tata's stake will translate into an enterprise value of 135 billion rupees for BigBasket, which is backed by Alibaba, ET Now said. BigBasket top managemen...

Girnar Food Drags Big Basket to Court Over Trademark Violation

18Jun By Lavina TolaniNo Comments

BUSINESS

Girnar Food Drags Big Basket to Court Over Trademark Violation

Grocery Startup Big Basket has been dragged to court over trademark violations claimed by Mumbai-based tea maker Girnar Food and Beverages Pvt Ltd. Girnar food has approached the court against two registered operating agencies - SuperMarket Grocery Supplies Pvt. Ltd, the B2B business entity that sources products and sells it to Innovative Retail, which runs the online grocery portal. The Teamaker has alleged that Big basket has infringed its ‘Royal’ trademark for selling various products including tea. According to sources , BigBasket is selling several products under the Royal brand, which includes grains, spices, honey and sugar. But Girnar has raised an objection to the e-commerce start-up selling tea under the Royal brand. Reportedly, Girnar had approached the court on 7 March ...

23Feb By NitishNo Comments

FUNDING

Grofers Looking to Raise $65 Million Fresh Funding But….

Bengaluru- Guragon based online grocery start-up Grofers is looking to raise $65 Million fresh funding from leading investors like Softbank & Tiger global. But the funding round will devalued 40% of Grofers valuation as per the report published by LiveMint. However the early investor in Grofers, Sequoia Capital will not participate in this round. The online grocery platform looking for much needed funding to operate their services. The leading competitor in the space bigbasket has already raised $300 million from Alibaba. Also the big daddy in Indian e-commerce space Flipkart & Amazon aggressively expanding their footprints into the Hyper-local space. As of 2016, the company has raised about Rs. 235.5 million funding from investors including SoftBank and Sequoia Capital. I...

BigBasket and Grofers are in Talks For Possible Merger

19Apr By AnkitaNo Comments

ACQUISITION

BigBasket and Grofers are in Talks For Possible Merger

India's online grocery delivery service BigBasket and smaller rival Grofers India Pvt. Ltd. have begun talks on a possible merger, Indian newspaper Mint reported on Wednesday, citing sources. If the merger goes through, SoftBank Group (9984.T), which is an existing investor in Grofers', will participate in a $60 million to $100 million funding round in the merged company, the report added. The talks, which are in early stages, may value BigBasket at about $700 million to $800 million, while Grofers could be valued at $150 million to $200 million, Mint added. Online grocery sales are a fast growing segment in India's e-commerce industry as more consumers log in to internet for their purchases.

Trifecta Capital Provides 45 Crores of Venture Debt to Bigbasket

1Apr By AdityaNo Comments

FUNDING

Trifecta Capital Provides 45 Crores of Venture Debt to Bigbasket

Trifecta Capital today announced that it has provided Rs. 45 crores of venture debt to SuperMarket Grocery Supplies Pvt. Ltd. that owns and operates the online food and grocery portal bigbasket.com. The funds will be used to meet the capex requirements of the company, including setting up new warehouses, strengthening the cold chain and setting up facilities for reprocessing of fruits and vegetables. "We have a clearly identified use case for debt. We are present in 25 cities and continue to optimise our supply chain. A significant part of our business is fresh fruits and vegetables, the bulk of which is sourced directly from farms. It is crucial that we maintain the quality right upto the last mile. We are in the last leg of a pilot which will ensure that all fruits and vegetables are ...

Amazon, Grofers, Big Basket May Invest $695 Million in Food Retail

26Mar By AdityaNo Comments

News

Amazon, Grofers, Big Basket May Invest $695 Million in Food Retail

The government has received investment proposals from three companies, including Amazon and Grofers, worth USD 695 million for retail of food products in India under the new FDI policy. "Three companies Super Market Groceries Supplies (Big Basket), Grofers India and Amazon Corporate Holdings have submitted their proposals for seeking permission to make investment of USD 695 million over a period of time," an official statement said today. The government had last year allowed 100 per cent FDI for marketing, including through e-commerce, of food products manufactured and produced in India. Earlier in the day, Food Processing Minister Harsimrat Kaur Badal announced that Amazon has decided to invest about USD 500 million in e-retail of food. "We allowed 100 per cent FDI in trading ...

E-grocery Platform BigBasket Target 300% Growth, Rs 2,000 crore Revenue at Fiscal End

5Dec By AnkitaNo Comments

BUSINESS

E-grocery Platform BigBasket Target 300% Growth, Rs 2,000 crore Revenue at Fiscal End

With people becoming comfortable buying even milk and bread online, e-grocery platform BigBasket today said it has seen 300 per cent growth in revenue in the past one year and expects to cross the Rs 2,000 crore-milestone by the fiscal-end. With four million registered customers, the Bengaluru based firm expects to become profitable by March 2018. "In the past year alone, we have seen over a 300 per cent growth and continue to grow by 10 per cent on a month-on-month basis. We hope to triple revenues to Rs 2,000 crore by March 2017," BigBasket co-founder Vipul Parekh told Pixr8. Parekh added that the company's revenue has grown from Rs 178 crore in FY2015 to Rs 700 crore in FY2016. "However, these numbers do not include the impact of demonetisation that has in fact, pushed our sales up ...

Big Basket Seeks Govt’s Approval For Rs 100 Crore FDI

25Oct By Press Trust of IndiaNo Comments

FUNDING

Big Basket Seeks Govt’s Approval For Rs 100 Crore FDI

Online grocery store Big Basket has sought government's approval to infuse Rs 100 crore foreign direct investment to further expand its business. The company, which sells fruits, vegetables and other food products online, plans to use the funds to strengthen back end infrastructure, increasing collection centers and processing units, sources said. According to a company official, foreign investment of Rs 100 crore is sought to be put in by existing investors, including an overseas venture capital fund. As per the current policy, 100 per cent foreign direct investment is allowed in trading of food products, including through e-commerce. But the proposals require approval from the Foreign Investment Promotion Board (FIPB), under the Finance Ministry. The government is making effo...

Peppertap Shuts Down Grocery Delivery Operations

23Apr By AdityaNo Comments

News

Peppertap Shuts Down Grocery Delivery Operations

PepperTap, a Hyperlocal delivery startup founded in 2013 by Navneet Singh and Milind Sharma shuts down its grocery delivery operations. Peppertap will focus on building a logistics company to compete with startups including Delhivery, Flipkart's ekart division and go Javas head on, multiple sources told Pixr8. In March, Bengaluru-based grocery portal BigBasket raised $150 million (about Rs 1,000 crore) in funding led by Dubai's Abraaj Group to strengthening its express delivery service and expand its reach. Grofers too raised $120 million led by Softbank earlier this year. Grofers too shut down operations in nine cities, including Ludhiana, Bhopal, Kochi, Coimbatore and Visakhapatnam earlier this year. The company already runs a reverse logistics arm through its parent company Nuvoex...

22Mar By reutersNo Comments

FUNDING

BigBasket Raises $150 Million in Funding Led By Abraaj Group

Grocery delivery service BigBasket has raised $150 million in fresh funding in a round led by UAE's Abraaj Group as the company looks to expand its services into smaller cities, the investor said. Existing investors Bessemer Venture Partners and Helion Advisors along with International Finance Corp and Sands Capital participated in the round, Abraaj said in a statement. Online grocery sales is a fast-growing segment in India's e-commerce industry as more consumers log in to the Internet for their purchases. Rival Grofers, an app-based service that connects local stores to customers, raised $120 million from Japan's Softbank last year to expand operations. Amazon.com Inc, which is aggressively investing in India, also launched a grocery delivery pilot in Bengaluru late last y...

This Indian lady has done an experiment, purchased from all online Hyperlocal Grocery stores to check their end results!!!

24Oct By No Comments

Story

This Indian lady has done an experiment, purchased from all online Hyperlocal Grocery stores to check their end results!!!

It’s Saturday morning and a hyperlocal experiment is playing on my mind. I have decided to fix a basket of goods and order from each of the new hyperlocal superstars that have hit the scene. Taking a page from the recent coverage, I chose the following: Grofers Peppertap Flipkart Nearby Amazon Kirana Snapdeal Instant Ola Store ZopNow Next I needed to fix a basket of goods that were across product groups like fruits & veggies, grocery/staples, branded foods and home cleaning products. This would also allow comparison of quality (I can expect variations in fruits and any in-house item like dal) and availability and discounts to MRP for packaged goods. It also needed to be stuff I could use 5 times over since everything is ideally going to arrive the same day! Have b...

6Sep By RishabhNo Comments

News

Challenges, growth and takedowns of Online Food & Groceries startups in India

Many emerging start-ups like BigBasket and PepperTap have started to acquire the market with their services of providing food and groceries right to your doorstep. Providing over more than 14,000 products all over from pulses to dairy and eggs and all that too online is no small thing. These startups have slammed the accelerators and are working hard and consistently to grow over into the deepest of valleys and every street in their working region. (more…)