wordpress blog stats
Connect with us

Hi, what are you looking for?

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…

Please subscribe/login to read the full story.
Written By

Writes about e-commerce, social media, tech and Internet ecosystem.

Free Reads

News

Experts debate the efficacy of ex-ante regulation in India's fast-evolving digital market. Is preemptive control the answer?

News

Lacking plans about the use and regulation of artificial intelligence, use of drones, health stack, cybersecurity and Smart Cities, the manifesto does not have...

News

WhatsApp’s new policy lowers the age limit to 13, facing fierce criticism from child protection groups in Europe.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ