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BigBasket raises $150 million from Abraaj Group & others

Bangalore-based online grocery store BigBasket, has raised $150 million in a round of funding led by Abraaj Group with participation from International Finance Corporation and Sands Capital among others, reports the Mint. Existing investors including Bessemer Venture Partners, Helion Advisors, Zodius Capital and Ascent Capital also participated in the round. The company will use the fresh round of funding to expand its one-hour express delivery service and launch a marketplace for speciality stores. The company, which currently operates in 18 cities, currently claims to deliver one million orders every month. Prior funding: BigBasket had raised $50 million in a round of funding from Bessemer in August last year. At the time, the startup appointed Citigroup to help raise an additional $150 million from a new set of investors. The company said then that it would use the funding to expand…

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