BigBasket, an India-based grocery e-commerce platform, has received Rs520m ($8m) in funding from the World Bank’s private investment arm International Finance Corporation, Abraaj Group, Bessemer Venture Partners and Sands Capital, Inc42 has reported.
The funding followed a $5.8m investment from Helion Ventures and Trifecta Capital revealed in a regulatory filing several days earlier. Reports in September suggested that e-commerce firm Paytm Mall was set to invest $200m in BigBasket in return for a 20% stake, however the deal has not yet been confirmed.
Founded in 2011, BigBasket operates an online grocery store enabling customers in 22 Indian metropolitan areas to browse more than 18,000 products on their site and apps and have their shopping delivered to their door.
BigBasket previously raised $150m in a series D round in March 2016 from Abraaj Group, International Finance Corp, Sands Capital, Bessemer Venture Partners, Helion Advisors, Zodius Capital and Ascent Capital.