BigBasket is an Indian online grocery retailer headquartered in Bangalore and owned by Tata Digital. Founded in 2011, it was the pioneer of online grocery shopping in India. The company is officially registered as Supermarket Grocery Supplies Pvt. Ltd.
As of January 2023, BigBasket operates in over 30 cities across India, handling approximately 15 million orders per month. Bloomberg News reports that the company is exploring an initial public offering (IPO) by 2025 as part of its expansion strategy.
History
BigBasket was established in December 2011 by five entrepreneurs who had previously weathered the dot-com bubble burst of the early 2000s. The startup initially received $10 million in funding from private equity investor Ascent Capital.
In 2015, BigBasket acquired the hyperlocal delivery service Delyver to enhance its last-mile delivery capabilities. By mid-2016, it had become India’s leading online grocer, distinguishing itself with its fresh produce delivery model—sourcing fruit and vegetables from local markets each morning, storing them in refrigerated warehouses, and using temperature-controlled trucks for delivery.
A significant milestone came in early 2018 when Alibaba Group led a $300 million funding round, making it the primary shareholder and valuing BigBasket at $950 million. By May 2019, BigBasket expanded its reach to 25 Indian cities and achieved unicorn status with a valuation exceeding $1 billion after raising $150 million from Mirae Asset-Naver Asia Growth Fund, CDC Group, and Alibaba.
In October 2020, BigBasket experienced a data breach affecting over 20 million users, exposing sensitive information including email addresses, phone numbers, and passwords.
The company was valued at approximately $1.85 billion in May 2021. The COVID-19 pandemic significantly boosted online grocery demand, leading BigBasket to handle over 7 million orders per month by early 2022.
In May 2021, Tata Digital acquired a 64% majority stake in BigBasket. By January 2023, BigBasket secured $200 million in funding from Tata Digital and other investors, raising its valuation to $3.2 billion. According to CEO Vipul Parekh, a significant portion of the company’s revenue comes from its private label products.
Offline Retail
On November 24, 2021, BigBasket launched its first physical store, named ‘Fresho,’ in Bangalore, focusing on fresh fruits and vegetables.