BigBasket

Mukesh Bansal, co-founder of Cult.fit, an online fitness startup in which Tata Group recently invested, has been made a key member of the fundraising team.

The second wave of novel coronavirus in India is much more severe than the last one. Since April 15, more than 200,000 cases per day are being recorded.

Indian conglomerate Tata Group has acquired a 68% stake in online grocery startup BigBasket, making the duo one of the strongest players in the booming e-grocery segment.

JustDial, that list offline businesses, disrupted the traditional classifieds industry which was then limited to newspapers.

India’s online grocery market is laden with multiple big players such as Amazon, Flipkart, BigBasket, JioMart, Grofers, Dunzo, and Swiggy.

The acquisition will give a full exit to Alibaba and private equity firm Abraaj Group.

Tata Group would take over the entire 29% stake of BigBasket’s largest backer Alibaba.

The Bengaluru-headquartered startup has filed a complaint with the city’s cybercrime police department.