Bengaluru, NFAPost: BigBasket, leading online supermarket, shifted its headquarters to new office premise at Prestige owned Golf Link Tech Park in Bengaluru.
According to a source privy to the development, the company which started operation from this facility 9 months back, further booked two floors in the tech park totalling around 40,000 square feet and started operating from last month onwards.
“The company’s decision to move to new office comes at a time when the company is registering high growth and attained Unicorn status. The new office is expected to bring synergy among product team, marketing and vendor heads, leadership team, and management team,” he said.
“Having gone deeper into the existing consumer base already, which has been our growth driver, we are now planning to get into the upper middle class and middle class segments,” – said Hari Menon in an interview earlier this year.
An analyst, who is tracking the company, said BigBasket will go for further team expansion to ramp up its analytics department as the company is going for high growth. “The company is looking for digital tools for expansion and there will be an AI driven strategy. Also, there is solid strategy to expand its footprint across the country. The company is also plans to focus on tier two and tier three markets for exponential growth and it requires more investment in manpower,” he said.
Supermarket Grocery, which runs and operates the online grocery brand BigBasket, has its officer located at K R Puram. The company started its operation in Bengaluru in 2011 and is present in around 30 cities across India. It has around 3000 employees and 1.5 lakh delivery workers. The company has established 16 warehouse in Bengaluru and major being at Hoskote and Whitefield. BigBasket currently has about 10 million downloads on Google Playstore and the app supports search in 7 regional languages.
The expansion officer is supported by the company’s new fund round where it raised $150 million led by South Korea’s Mirae Asset- Naver Asia Growth Fund, UK’s CDC Group, and existing investor Alibaba.
The company has come up with its plan to use the funding to expand reseller channels, strengthen its market penetration, enhance first mile connectivity and backend supply chain capabilities.
This round has boosted the company’s valuation to over $1 billion, pushing it to the coveted ‘unicorn’ club.
“We have a unique opportunity to build one of the largest grocery businesses in the country in the country and we expect the capital raised in this round to continue to enable us to do just that,” said
BigBasket Co-Founder V S Sudhakar said BigBasket has an unique opportunity to build one of the largest grocery business in India. “The capital raised in the recent round will continue to help us to achieve that and compete with other players,” said V S Sudhakar.
According to an analyst, Big Basket is a shining star of the organised retail as the platform provides transformational and convenient experience to its consumers. “We all know that India is moving towards a digital economy. Simultaneously, there is a push for people going for organised retail that promises end consumers awesome shopping experience, quality products and with affordable pricing,” said the analyst to NFAPost.
India’s grocery delivery business is witnessing hyper competition with local players like SoftBank-backed Grofers, Milkbasket, Freshtohome, Walmart-backed Flipkart, and Amazon.