In March 2019, Indian grocery startup BigBasket announced that it had raised US$ 150 million in its series F round of funding. With this latest round of funding, BigBasket’s valuation crossed US$ one billion, which helped the company enter the Unicorn League. The funding round was led by Alibaba.com BigBasket’s largest shareholder, with an investment of US$ 50 million. (Refer to Exhibit I for key stakeholders in BigBasket). Other investors included Mirae Asset with US$ 59.9 million and CDC Group PLC with US$ 40 million. Hari Menon (Menon), Co-Founder and CEO at BigBasket, commented, “Mirae was looking to invest in ecommerce, and India is a space they wanted to invest in. We were in the market to raise fresh funds when they started looking at opportunities.” ..

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