Grocery e-tailer BigBasket in talks to raise Rs 300 crore

BANGALORE: Online grocery company BigBasket is in talks with private equity firms in the United States and India to raise over Rs 300 crore over the next few months.

BigBasket will use the funds to expand to seven cities, such as Delhi, Chennai, Pune and Ahmedabad, as investors begin to regard the segment as one of the promising within the online retail industry. With over 10,000 products and over a 1,000 brands, BigBasket delivers food items such as fruits, vegetables, bakery, dairy products and frozen foods, to customers in Bangalore, Mumbai and Hyderabad.

“Technology is the backbone of this business. It is a ‘cookie cutter model’ that we can replicate in other markets,” said VS Sudhakar, co founder of BigBasket.

“The issue is not how many online players are competing, but how many transactions you can do, while maintaining customer experience,” he saidc