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Grapevine: Tatas eye up to 20% of Bigbasket; Zomato raises funds from US-based Kora

By Ankit Agarwal

  • 15 Oct 2020
Grapevine: Tatas eye up to 20% of Bigbasket; Zomato raises funds from US-based Kora
Credit: VCCircle

Tata Group is in talks to acquire up to 20% in e-grocer unicorn Bigbasket to bolster its digital arsenal and catch up with rivals including Amazon and Reliance Retail.

Tata and Bigbasket would take a decision on the partnership deal by the end of October, a person in the know told The Financial Times. Tata would also be getting two board seats, a second person said.

It was reported previously that Tata had planned to launch a super app aimed at bringing together its disparate consumer brands. 

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Some analysts say that the slow entrance of Tata into the online retail sector has already cost it a share of the expanding pie.

During April, Bigbasket raised a bridge round of funding worth more than $50 million from its existing investors Alibaba and CDC Group.

In March, it acquired Sama-capital backed micro-delivery startup DailyNinja for $6 million.

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Meanwhile, food delivery major Zomato has raised $52 million (Rs 380 crore) from Kora Investments in the third tranche of its Series J round, an Entrackr report said.

New York-based Kora may inject more capital in the coming weeks.

This comes after the infusion of $62 million from Temasek and close to $106 million from Tiger Global

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The ongoing round could be the last fundraise for Zomato before its public listing. The company recently said it is preparing for an IPO in 2021.

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