BigBasket to invest $100 million to strengthen its supply chain
Category: #retail  By Pankaj Singh  Date: 2019-04-29
  • share
  • Twitter
  • Facebook
  • LinkedIn

BigBasket to invest $100 million to strengthen its supply chain

BigBasket will also reportedly invest to set up BB Instant – its unmanned vending machines – in apartment and office complexes.

Online food and grocery store BigBasket will reportedly pump in $100 million (around INR 698 crore) to improve its supply chain. The company will set up smaller distribution centers and vending machines across its various operating cities.

BigBasket, backed by Alibaba, has reportedly raised $150 million in funding round. CDC Group, Alibaba Group and Mirae Asset-Naver Asia Growth Fund led the funding round.

Reportedly, the latest fund has placed BigBasket in the unicorn club (companies with valuation of $1 billion and above). The online store will use the fund to increase footprints in existing markets with more investments in the first mile, develop new reseller channels and scale-up of supply chain.

Vipul Parekh, co-founder, BigBasket, reportedly stated that the company aims to enable two-hour delivery in top 10 cities, where BigBasket operates, by July this year. The company has 80 smaller and 18 large distribution centers together with its reseller and this will be ramped to 100 smaller and 20 large centers by June this year, he further added.

According to reliable sources, this move will enable BigBasket to ensure quality of fresh produce, dairy products and reduce delivery time. The company has anticipated a capital expenditure of about $100 million this year towards these initiatives.

BigBasket will also reportedly invest to set up BB Instant – its unmanned vending machines – in apartment and office complexes. The risk of vandalism will be lower as the machines will be placed within apartment and office complexes. Customers will be able to use their app for accessing the machine and buy products. The vending machines have been placed at 200 sites in Bengaluru. The company aims to have 2,000 such sites across the 10 large operating cities.

BigBasket will continue to build further on its leadership in the grocery business with these investments, cited sources. The company competes with the rivals such as Amazon.in, Walmart-owned Flipkart and SoftBank-backed Grofers.

 

Source credit: https://www.businesstoday.in/current/corporate/bigbasket-to-pump--100-million-to-boost-supply-chain-by-setting-up-vending-machines/story/341304.html

https://in.finance.yahoo.com/news/bigbasket-invest-100-m-strengthen-123542252.html



About Author

Pankaj Singh

Email: [email protected]   

Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

More News By Pankaj Singh

Early data from first human CRISPR trials reveals promising results
Early data from first human CRISPR trials reveals promising results
By Pankaj Singh

Vertex Pharmaceuticals and CRISPR Therapeutics have recently revealed early data from their joint trials to test CRISPR treatment in humans. The data was obtained from two patients suffering from serious blood disorder...

Novartis’ trial of Entresto reveals potential beyond HFrEF treatment
Novartis’ trial of Entresto reveals potential beyond HFrEF treatment
By Pankaj Singh

Swiss pharma-company Novartis has reportedly revealed subgroup results from its global PARAGON-HF Phase III study. The trial involved a study of patients suffering from HFpEF (heart failure with preserved ejection frac...

Nike to halt direct sale of its shoes and clothes through Amazon
Nike to halt direct sale of its shoes and clothes through Amazon
By Pankaj Singh

In efforts to retain their relevance in the continuously evolving world of ecommerce, companies are losing the personal touch they once had with their customers. Lately however, prominent brands that have a well-establ...