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BigBasket raised $200 million in new funds from Tata Digital and other investors boosting the valuation to $3.2 billion.
Hari Menon, co-founder and CEO, said the additional funding will be used to improve infrastructure and step up marketing for growth of the primary grocery business. It will also make additional investments in BB Now, its quick commerce product, as it entered the market relatively late. Up from the current total of 55 cities, BigBasket intends to expand its primary e-grocery business to about 75 cities. In addition, Tata Digital’s 1mg e-pharmacy service and the subscription-based BB Daily will be transferred to the main app.
