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Indian online grocery startup BigBasket raises $60M

Indian grocery startup BigBasket has raised $60 million as it scales its business in the country to meet growing demand from customers stuck at home.
Alibaba and other existing investors including Mirae Asset and CDC Group participated in the bridge-round, Vipul Parekh, co-founder of BigBasket, told TechCrunch in an interview. Parekh said the startup intends to close a larger financing round in the next six to nine months.
The eight-year-old startup, which attained the unicorn status last year, has raised about $720 million in venture capital and debt financing to date, according to CBInsights. Indian news outlet Entrackr first signaled the bridge-round.
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