Indian online grocer Bigbasket raises $50m debt funding from Alibaba

An employee weighs tomatoes after packing them at a BigBasket warehouse on the outskirts of Mumbai November 4, 2014. REUTERS/Danish Siddiqui/Files

Online grocery platform Bigbasket has raised $50 million debt funding from existing investor Chinese e-commerce giant Alibaba Group Holding Ltd, according to documents sourced from the Registrar of Companies (RoC).

As per the documents, Bengaluru-based Bigbasket (owned by Supermarket Grocery Supplies Pvt. Ltd) has issued 4,62,500 Series F-2 compulsorily convertible debentures at 8,213.5 per debenture.

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