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BigBasket raises $150 million in fresh funds - 23-Mar-2016
Bengaluru: Online grocery BigBasket said on Tuesday that it had raised $150 million in fresh funds, giving it additional firepower against smaller rivals Grofers and PepperTap, both of which have shrunk operations after an expansion spree led to losses without yielding sufficient sales. The latest round of funding, which has been in the works since July 2015, saw participation from new investors, such as private equity (PE) firm The Abraaj Group, venture capital firm Sands Capital Management Llc and International Finance Corp. (IFC), the private sector lending arm of the World Bank.