Altigreen Propulsion Labs – a clean technology company that has developed a retrofit electric kit which, when connected to a four-wheeler, can reduce emission rates by 20% and improve fuel efficiency by a fourth – is testing its technology with the fleet at BigBasket and Carzonrent. Backed by Ju…
Tag: Bigbasket
Paytm to raise $300 million, valuation pegged at $5 billion
Vijay Shekhar Sharma-led mobile wallet major Paytm is in advanced talks to raise $300 million in fresh funds. According to multiple sources, other than existing investors such as Chinese e-commerce giant Alibaba and SAIF Partners, the new round of fundraising will see participation from Singapore…
Next big thing in e-commerce, online grocery start-ups in India struggle
Once seen as the next big thing in online commerce, the euphoria surrounding e-grocery companies seem to have whittled. Online grocery start-ups such as LocalBanya, PepperTap and AAGAAR.com have already shut shop while Grofers continues to struggle to stay afloat, all of which point that the busi…
BigBasket mulling to invest up to Rs 90 crore for recruiting more farmers to its network
BigBasket plans to invest up to Rs 90 crore to recruit hundreds more farmers to its network, beefing up its supply chain ahead of a potential entry of deep-pocketed global corporations including Walmart and Amazon into India’s online grocery market. The investment, which follows a $150 mill…
Sri Lanka’s venture engine event attracts global investors
The annual Venture Engine event in Colombo, Sri Lanka that started as a small, local event to fund and encourage early stage companies has scaled up significantly and now attracts global investors. The 16th edition of the event held last week in Colombo attracted about 20 investors from India, US…
Government allows 100% FDI for online grocery startups
In a boost to retailers and grocery startups such as Bigbasket and Grofers, the government on June 20 allowed 100% FDI in food retail, including through e-commerce, provided such items are produced, processed or manufactured in the country. This will allow multi-brand retail giants such as Walmar…
IFC focus on startups in healthcare, edu-tech and clean technology among others
International Finance Corp, the private sector investment arm of the World Bank, is looking to ramp up its venture capital activity in India, a geography that represents the long-term investor’s second-largest portfolio globally. Buoyed by its investments in a string of leading Indian start…
Startups nudge staff to change work culture
Employees at startups, which were once fledgling firms but are now established in their fields, are being given challenging KRAs, key result areas to measure performance outcomes. A highly competitive operating environment is driving this shift towards a new work culture. While Bigbasket has told…
Fresh breed of rich individuals are investing in startups
Bengaluru-based interior decor startup MyGubbi raised $2.5 million (Rs 16.5 crore) from as many as 30 individuals in March. Given the chariness towards startups, it’s not surprising that so many people pitched in— the risk gets divided more. What did raise eyebrows was that more than half o…
Grofers fruits & veggies under ‘Freshbury’
Grofers, the food and grocery hyperlocal, is tweaking its business model to a partly inventory-led one, CFO Ashneer Grover told. The company has decided to sell fruit, vegetables and staples under a private label — Freshbury — and these will be sourced from Grofers India’s sister concern. Grover …