Summary: Tata Sons has urged BigBasket to raise up to $1 billion in external funding to regain its competitive position in India’s quick commerce market. The Tata Digital-owned company has fallen behind rivals Blinkit, Zepto, and Swiggy Instamart, prompting concerns over its strategic direction. Tata Sons believes fresh capital from a major investor could enhance BigBasket’s technology, logistics, and market expansion. With Blinkit and Zepto currently leading the sector, securing additional funding is seen as crucial for BigBasket’s comeback.
Tata Sons has urged online grocery platform BigBasket to secure up to $1 billion in external funding to regain its competitive edge in India’s rapidly growing quick commerce sector, according to a report by The Economic Times.
BigBasket, owned by Tata Digital, has reportedly fallen behind key competitors such as Blinkit, Zepto, and Swiggy Instamart. This decline has raised concerns within Tata Sons, which views the company’s current position as a strategic misstep in an increasingly competitive landscape.
The report highlights that Tata Sons believes an infusion of fresh capital from a major financial investor could help BigBasket make a strong comeback. The additional funding would be directed toward enhancing technological capabilities, optimizing logistics, and expanding market presence to reclaim lost ground.
India’s quick commerce market has witnessed intense competition, with recent research from Citi indicating that Blinkit, owned by Zomato, and Zepto currently hold a greater market share compared to other players, including Swiggy Instamart. As the sector continues to evolve, securing external funding could be crucial for BigBasket to remain a formidable contender in the space.
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Last Updated on Thursday, February 20, 2025 4:14 pm by Startup Times
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