Bengaluru-based online grocery delivery platform BigBasket has raised a $50 Mn from existing investor Alibaba in its latest funding round to meet the upsurge in demand for essential products amid lockdown.
Before this, BigBasket had raised $150 Mn in Series F funding round. With this round, the company had become the first online grocery delivery platform to enter the unicorn club with a $1.2 Bn valuation. It had also raised around $13 Mn in debt from Trifecta last year.
Moreover, many delivery partners of the company have gone back to their hometowns due to the lockdown. Therefore, the funding will also help the company to solve the manpower crunch.
As of now, the company is operating around 50% of its capacity. To enhance the operations, BigBasket has partnered with last-mile delivery companies which are helping the company to meet the demand.
CEO of BigBasket Hari Menon had recently said that the company has infrastructure capable of handling around 300K orders per day. Before the lockdown, BigBasket was clocking around 150K orders per day. However, the company will be looking to ramp up the infrastructure as people will be relying more on online platforms for their grocery orders.