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Ascent Capital invests $10 mn in online grocery store BigBasket
 Ascent Capital invests $10 mn in online grocery store BigBasket
By: iMedia News Bureau, Bangalore based first comprehensive online grocery store has raised $10mnRound A of funding from Ascent Capital. The online store delivers groceries across Bangalore city BigBasket is founded by K Ganesh, Meena Ganesh, V S Sudhakar, HariMenon, Vipul Parekh and V S Ramesh.

The online grocery store provides over 6,000 products all categories such as Staples & Provisions, Fresh Fruits & Vegetables, Toiletries, Branded Food & Non-Food products, Bread & Bakery Products, Dairy Products, Frozen Foods such as Ice Creams & many more.

With 50 delivery vans, BigBasket caters to 300 transactions daily and an average billing of Rs1200. The company also has six warehouses.

Accent Capital currently manages $600 million across three funds. Its portfolio investments include GMR Energy, IVRCL Infrastructure, Laqshya, Shriram EPC, Ramkrishna Forgings among others.

E-commerce watchers say BigBasket is one of the most daring ventures to come up on the latest wave of consumer internet stories, and its success could re-arrange the grocery retail game in urban India.