Major Cash Flow In Times of High Competition

In the times of everything being on a fast track, BigBasket forayed into the space late last year with its express deliveries. This Bengaluru-based company has also opened its first offline retail store in 2021 and plans to open 200 such outlets by 2023.?

At a time when quick finances are seeing increasing competition, Bigbasket has gained a cash inflow of Rs 350 crores. Other e-commerce startups like Swiggy, Zomato, and Zepto are forced to double down on their delivery services to stay in the competition. The investment comes just a month after Bigbasket had raised Rs 1,000 crore from its holding company. Tata-owned Innovative Retail Concepts Pvt Ltd operates the online grocery platform Bigbasket which has recently received a capital infusion from Supermarket Grocery Supplies Pvt Ltd.

After Tata Digital acquired Bigbasket, Innovative Retail Concepts was made a subsidiary of Supermarket Grocery in 2021. Tata owns a 4 percent stake in SGS that owns Bigbasket. Bigbasket sells through its app and website but now is also dealing through the super app Tata Neu. Bigbasket has proved to be the main business line for the conglomerate in this current hot space. In recent news reports, Tata is considering some new moves to consolidate the data across brands to personalize the app and add Metaverse for commerce. This will help Tata to target its audiences better and create a better impact.