Bengaluru-based online grocery startup Bigbasket has raised $5 Mn (INR 32.65 Cr) from Helion Ventures Partners. This comes at a time when rival Grofers India has pumped in $14.7 Mn (INR 96 Cr) from its Singapore-based parent company Grofers International.
As per the RoC filings by Supermarket Grocery and Supplies, which runs Bigbasket, the investment took place on September 27 and involved the allocation of 50,000 shares at INR $100 (INR 6,509.25) apiece.
Just over a fortnight later, the online grocery startup secured $839 K(INR 5.5 Cr) from its existing investor, Trifecta Capital in debt funding.
Since starting operations in 2011, Bigbasket has been backed by a bevy of investors, including Brand Capital, Bessemer Venture Partners, Ascent Capital, GrowthStory, Paytm Mall, Alibaba Group and Abraaj Group, among others.
Grofers, on the other hand, calls Tiger Global Management, Sequoia Capital, SoftBank Group and Cyriac Roeding as its chief investors. According to the company’s recent filings with the Ministry of Corporate Affairs dated September 19, the grocery startup issued 269 shares at $18,187 (INR 11.84 Lakh) apiece and 542 shares at $18,164 (INR 11.83 Lakh) apiece to Grofers International.