BigBasket raises $40 million from UK’s CDC group at $1.2 billion valuation: Report
24 April 2019 1:01 AM GMT
This is the first time CDC is investing in an Indian startup whereas it has invested over $1.3 billion in India for almost three decades
- The UK-based finance institution CDC Group has committed to BigBasket, one of the newest unicorns of India, and invested $40 million in the grocery delivery company, Mint reported.
- This deal pushes BigBasket's valuation to $1.2 billion and is a part of a funding round worth $150 million.
- The group invested the funds along with Korea's Mirae Global Asset Management, which pumped $60 million into Supermarket Grocery Supplies Pvt Ltd, the parent company of BigBasket.
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