India: BigBasket raises up to $60m in bridge round from Alibaba, others

BigBasket founder Hari Menon. Photo: Mint

Bengaluru-based grocery delivery startup BigBasket has raised $50-60 million in a bridge funding round led by China’s Alibaba Holdings and other existing investors, amid surging online orders due to the coronavirus outbreak.

According to a report in Entrackr, the financing round, which closed about two weeks ago, also saw the participation of South Korean investment firm Mirae Asset and UK’s development finance institution CDC Group.

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