According to report BigBasket had raised $300 million from Alibaba Group Holding Ltd earlier this year. Meanwhile the people said BigBasket may make a minority or majority investment in one of the two start-ups and further the terms of the deals haven’t been finalized as yet.
Moreover the report stated that with a fresh infusion of funds, BigBasket is looking at a number of new initiatives, including the launch of a new subscription service. Presently it is looking to compete with Amazon India and Flipkart, which are trying to quickly expand their grocery businesses.
Furthermore BigBasket is also trying to fortify its capabilities in the
micro-delivery space, which refers to the delivery of a relatively small number
of daily essentials such as fresh fruits, vegetables and dairy products, within
a few hours of an order being placed. So far BigBasket has mostly catered to
customers who typically order large quantities of groceries, FMCG (fast-moving
consumer goods) products and household items on a weekly basis.
