Mirae Asset – Naver Asia Growth Fund, a leading global investor; CDC Group, the UK Government’s development finance institution; and, Alibaba Group have led a ₹1,050-crore ($150 million) funding round in Supermarket Grocery Supplies Pvt Ltd, which owns BigBasket, a leading online grocery company.
The company will use the money to penetrate further in existing markets, scale up its supply chain and to develop new reseller channels. Founded in 2011, the Bengaluru-headquartered Supermarket Grocery Supplies serves resellers across India, and now operates in 10 metros and 15 tier-II cities.