Latest Fundings Raised by BigBasket and Grofers
India’s biggest online grocery startup, BigBasket has recently raised the 5 Million Dollars(Around 33 crores INR) funding from Helion Ventures partners in their latest round of funding. The investment took place on September 27, 2017. On the other hand, BigBasket’s market rival Grofers India has raised 14.7 Million Dollars(Around 96 crore INR). Grofers raised the funding from its Singapore based parent company Grofers International.
As per the government filings, the BigBasket investment took place in September and involved the allocation of 50,000 shares at INR $100 per piece. Just a few days before this deal, BigBasket secured 5.5 crores Rupees of funding from its existing investor, Trifecta Capital in debt funding.
Earlier Raised Fundings
Since its inception in 2011, the company BigBasket highest fundraising was 150 million dollars in March 2016 led by Abraaj Capital in its Series D of funding. Some of the other investors are Bessemer Ventures, Helion, Zodius and existing investors who participated including Ascent Capital, Lion Rock Capital and Ganesh Krishnan and Meena Ganesh.
Grofers which started its operation in 2013 received its first seed funding of 500 thousand dollars in 2014. After that in 2015, Grofers raised 10 million dollars in Series A funding from Tiger Global Management and Sequoia Capital then again in same year company managed to raise 25 million dollars and in December 2015 Grofers managed to raise its biggest funding of 120 million dollars.