Tata Digital and other investors contributed $200 million in fresh capital to BigBasket, raising its valuation to $3.2 billion.
The additional cash, according to co-founder and CEO Hari Menon, would be used to boost marketing efforts and strengthen infrastructure to grow the company’s core supermarket business. Since BB Now joined the market rather late, it will also increase its investment in the quick commerce product. BigBasket plans to increase its principal e-grocery business to around 75 cities from its present total of 55 cities. The BB Daily subscription service and Tata Digital’s 1mg e-pharmacy business will also be moved to the main app.