Bengaluru-based hyperlocal grocery delivery company, BigBasket, is closing a $150 million (₹15 crore) funding round. The funding round values BigBasket at $1 billion premoney, which would make the company the first India startup to join the unicorn club (companies valued at $1 billion) in 2019 .
The deal is said to be in its final stages, sources told Inc42. However, at the time of publication, Bigbasket was yet to file the documents for the funding round with the Ministry of Corporate Affairs (MCA). BigBasket was launched in 2011 by VS Sudhakar, Hari Menon, Vipul Parekh, V S Ramesh and Abhinay Choudhar.
According to reports, the potential funding round is led by the existing backer, Alibaba while new investors such as CDC Group owned by UK government and South Korea’s Mirae Asset Global Investments will be coming onboard.