BigBasket in talks with Singapore's Temasek to raise $100 mn
BigBasket is in talks with Singapore's sovereign wealth fund Temasek to raise up to 100 million dollars in funding. Existing investors including Mirae Asset and CDC Group are also likely to join. The platform had raised 50 million dollars in April this year from Alibaba and other investors. The valuation will reportedly be the same as in April.
The company is in talks to raise up to $100 million led by Temasek, said three sources aware of the conversation. “The talks have been on for the past few weeks. Temasek could invest anywhere between $50 to 70 million,” said one of the sources on condition of anonymity.
The valuation of BigBasket will not see any significant increment. More or less it would be the same as the last round raised in April, added the second source who also wished not to be named. To be sure, the deal may or may not materialize.
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