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Funding Digest: Pre Cared, BigBasket

Mumbai based Pre Cared has raised an undisclosed amount of funding from MyFirstCheque, reports SiliconIndia. The startup intends to use the money raised to set up new warehouses in the country. The company already has a warehouse in Mumbai from where it currently sources all its products.

Launched in June 2011, Pre Cared is an initiative by Kerfuffle Enterprises and deals in buying and selling of pre-used baby products. It buys pre-used durable products like high chairs, car seats, walkers, prams, strollers, cots and beds, toys, cradles and cribs from parents, cleans and sanitizes them and retails them on its website. The company claims to offer between 15-30% of the current retail price of the products depending on the product’s condition.

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Bangalore-based online grocery store BigBasket has raised $10 million from Ascent Capital in its first round of funding, reports The Times Of India. The company claims that this is the biggest first-round funding raised by an Indian e-commerce company and intends to use the money raised to improve its service and merchandise selection as well as increase its capacity. The company had previously raised money from Meena Ganesh, CEO & MD of Pearson Education Services and K Ganesh, who had sold Tutorvista to Pearson Education services in January 2011.

BigBasket, which recently launched its Bengaluru operations claims to offer 6,000 products across several categories like fruits & vegetables, groceries and staple provisions, bread & bakery products, toiletries, branded food & non-food products, dairy products, household provisions, confectioneries and frozen food such as Ice Creams and others. It also has a fleet of 50 Omni vans and claims to deliver products within six hours of an order being placed by the customer.

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According to the TOI report, BigBasket manages 300 daily transactions with average billing of Rs 1,200 and intends to extend its services to five metro cities by end of 2012.

BigBasket competes with other players like Aaramshop, MyGrahak.com and ZopNow which also offers online grocery shopping.

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