e-grocer BigBasket eyes Rs 1,000-cr monthly revenue rate from March 2018

Bengaluru-based online supermarket, BigBasket, is expecting a monthly revenue run rate of Rs 1,000 crore starting March 2018, according to its co-founder Abhinay Choudhari.

Founded in 2011 by Choudhari, V S Sudhakar, Hari Menon, V S Ramesh and Vipul Parekh, the e-grocer currently has an annual revenue run rate of Rs 1,000 crore. At present, the company executes 30,000 transactions per day.

Announcing the launch of BB Express, BigBasket's express delivery service, in Hyderabad on Wednesday, Choudhari said they were planning to expand the service to eight of its 12 existing markets by January 2016.

According to him, BigBasket was in the process of closing its $120-million external funding round shortly. The $50-million fund, which the company had raised from its existing investors led by Bessemer Venture Partners in August this year, was part of the fresh investment round, he added.

 

"The proceeds from the new fundraising round will be used to expand our presence to 27 cities across the country by March 2016," he said.