The grocery and food market in India is estimated at 0 billion and this includes packaged food.
Online grocery e-tailer BigBasket has secured Rs 5.5 crore from one of its existing investors, Trifecta venture debt fund, recent filings with the registrar of companies (RoC) show. The funding comes months after fund-raising talks with Amazon failed to materialise.
Supermarket Grocery and Supplies that runs the online grocery store issued equity and compulsory convertible preference shares to Trifecta at a premium of Rs 474 and Rs 4,980 for equity and preference share apiece, respectively.
Inventory-led firms such as BigBasket also competes with hyperlocal grocery delivery companies such as Groffers which have an online marketplace model. However, loss and uncertain investment climate have been making lives of such niche e-commerce start-ups quite challenging. Some like PepperTap have already windup their businesses. BigBasket posted a loss of Rs 78 crore on revenues of Rs 580 crore in the year ended March 2016.
The grocery and food market in India is estimated at $400 billion and this includes packaged food. According to consulting firm Technopak, the online grocery platforms contribute only about $300 million.
Apart from B2C, BigBasket is also involved in the B2B segment. BigBasket clocked `100-crore annualised turnover by March 2017 from its B2B food services business with its offerings of meats, private labels, staples, gourmet products, etc.
