<article>Alibaba-backed online grocer <a href="https://www.dealstreetasia.com/?s=BigBasket" target="_blank" rel="noopener">BigBasket</a> has completed the acquisition of three ventures &#8212; <a href="https://www.dealstreetasia.com/?s=RainCan" target="_blank" rel="noopener">RainCan</a>, <a href="https://www.dealstreetasia.com/?s=Morning Cart" target="_blank" rel="noopener">Morning Cart</a>, and <a href="https://www.dealstreetasia.com/?s=Kwik24" target="_blank" rel="noopener">Kwik24</a> &#8212; in less than six months, according to an Economic Times <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/bigbasket-completes-three-acquisitions/articleshow/66285720.cms">report</a>.</article>

Alibaba-backed online grocer <a href="https://www.dealstreetasia.com/?s=BigBasket" target="_blank" rel="noopener">BigBasket</a> has completed the acquisition of three ventures &#8212; <a href="https://www.dealstreetasia.com/?s=RainCan" target="_blank" rel="noopener">RainCan</a>, <a href="https://www.dealstreetasia.com/?s=Morning Cart" target="_blank" rel="noopener">Morning Cart</a>, and <a href="https://www.dealstreetasia.com/?s=Kwik24" target="_blank" rel="noopener">Kwik24</a> &#8212; in less than six months, according to an Economic Times <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/bigbasket-completes-three-acquisitions/articleshow/66285720.cms">report</a>.
BigBasket, run by SuperMarket Grocery Supplies Pvt. Ltd, announced the acquisition of subscription-based hyperlocal delivery platform RainCan for an undisclosed amount on Thursday. It had reportedly acquired Bengaluru-based daily essential ordering platform Morning Cart in June this year.
&#8220;The micro delivery startup acquisition really helps BigBasket in accelerating our need to bring fresh subscription services to our customers, daily. And Kwik24 acquisition gives us the ability to be closer to the customer by way of the BB Instant smart vending kiosks,&#8221; Hari Menon, chief executive of Big Basket, was quoted as saying in the report.
BigBasket will subsequently rebrand the RainCan app as BBdaily and will offer subscription-based services enabling early morning delivery of household essentials, including milk, bread, fruits and vegetables, baby diapers and staples. Currently piloting in Bengaluru and Pune, the service will be taken to eight metro cities. BigBasket claims to have 20,000 daily subscriptions.
The company has also installed 100 smart vending machines with Kwik24 in Bengaluru and plans to expand to other cities soon, the report added. The vending machines are installed as part of the BB Instant service, which allows customers to order fresh produce and other FMCG products through the BB Instant app.
In a July Mint report, Bengaluru-based BigBasket had said that it aims to touch a $1-billion (Rs6,865 crore) gross sales run rate by March 2019, as it prepares for battle against other biggies in the space &#8212; Walmart and Amazon. In March 2018, it had recorded about Rs230 crore in gross monthly sales, with an annual exit rate of around Rs3,000 crore.
BigBasket had raised $300 million in a Series E funding round led by Alibaba Group Holding Ltd in February this year, with participation from Sands Capital, International Finance Corp. and Dubai-based private equity investor Abraaj Capital. Other investors include Helion Venture Partners, Bessemer Venture Partners and Ascent Capital.

BigBasket, run by SuperMarket Grocery Supplies Pvt. Ltd, announced the acquisition of subscription-based hyperlocal delivery platform RainCan for an undisclosed amount this week.

Online grocer BigBasket completes 3 acquisitions in less than six months: Report

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Online grocer BigBasket completes 3 acquisitions in less than six months: Report

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