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BigBasket secures Rs 5.5 crore from Trifecta Capital: report

Bangalore-based online grocery store BigBasket, has raised Rs 5.5 Crore from its existing investor Trifecta Capital, reports Financial Express. The fresh fund seems to be the extension of its previous funding from the investors. The company had previously raised Rs 45 crore from Trifecta Capital in March this year, to meet the capex requirements of the company, including setting up new warehouses, strengthening the cold chain and setting up facilities for reprocessing of fruits and vegetables. MediaNama has reached out to BigBasket for statement on this development, we will update as soon as we hear back from them. Grocery Segment BigBasket's seems to be ramping up to compete with ecommerce biggies such as Flipkart and Amazon, which are eyeing online grocery segment in a big way. Flipkart reportedly decided to give online grocery delivery another try in July this year, as the company launched a grocery delivery service in Bangalore on a pilot basis. Flipkart had earlier shut down its earlier service Flipkart Nearby in February last year, nearly 5 months after its launch. Amazon recently received government of India’s approval to invest $500 million in the food retail segment. In April this year, the Department of Industrial Policy and Promotion (DIPP) had also approved Amazon’s plans to stock and sell local grocery produce online. Amazon operates its grocery service online via Amazon Pantry, a service which delivers household items and grocery with presence in 34 cities . On the other hand, the grocery delivery service KiranaNow (Amazon Now), which was launched in Bengaluru last year, is currently available in Delhi-NCR, Mumbai, Bangalore and Hyderabad. Fatalities: The online grocery delivery segment has slowly been…

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