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BigBasket Under Pressure: Tata Sons Pushes for External Funding Amid Quick Commerce Race
OutlookIndia
·
5m ago
Medial
Tata Sons is dissatisfied with BigBasket's performance in the fast-growing quick commerce market, where competitors like Zomato, Swiggy, and Zepto are advancing rapidly. As a result, Tata Sons pushes BigBasket to seek external funding of $1 billion to remain competitive. Despite not leading this funding round, Tata Sons is encouraging BigBasket’s management to bring in financial investors. BigBasket aims for profitability and an IPO by 2025, with its new BB Now service.
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Tata funds pause is no 'debt-errent' at 1mg, BigBasket
Economic Times
·
1y ago
Medial
Tata 1mg and BigBasket, two major assets of Tata Digital, are planning to finance their offline expansion through a mix of debt and equity. Tata Digital, backed by parent company Tata Sons, aims to stabilize operations on its superapp Neu before allocating more funds. The capital infusion will help BigBasket compete against rivals in the quick commerce sector, while 1mg plans to rely on debt from banks for its offline business. Despite competition in the online pharmacy segment stabilizing, both companies are focused on improving the consumer experience on the superapp.
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BigBasket pilots 10-minute food delivery with Starbucks, Qmin in Bengaluru
Economic Times
·
2m ago
Medial
BigBasket has launched a 10-minute food delivery pilot in Bengaluru, incorporating offerings from Starbucks and Qmin. This expansion comes ahead of its planned 2025 food delivery service launch. As rapid food delivery gains traction with competitors like Zepto, Swiggy, and Blinkit, Tata Sons has urged BigBasket to accelerate its response to the quick commerce market. The service includes beverages, snacks, meal bowls, and desserts, aiming to enhance BigBasket’s competitive stance in the growing segment.
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Tata Digital explores operational integration
Economic Times
·
1y ago
Medial
Tata Digital is considering integrating the operational structures of its key assets, including BigBasket, 1mg, and Tata Cliq, to streamline operations and improve market responsiveness. BigBasket is also seeking funding of up to $100 million from parent company Tata Sons. Similarly, 1mg is expected to receive financial support. Tata Digital plans to consolidate its standalone apps under the Tata Neu app to increase consumer engagement and operational efficiency. The company aims to address slower-than-expected growth by appointing a new CEO, Naveen Tahilyani.
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Bigbasket eyes quick commerce for electronics with Croma tie-up
Livemint
·
1y ago
Medial
Bigbasket, a Tata-backed company, is in talks with sister company Croma to sell electronics and appliances through its quick commerce vertical. The aim is to offer customers fast delivery of various products, such as getting a washing machine delivered in 15 minutes. Bigbasket's quick-commerce arm, BB Now, leverages existing infrastructure to ensure orders are delivered in under 30 minutes. The quick-commerce sector in India has seen significant churn, but Bigbasket aims to achieve profitability by focusing on revenue per dark store and average order value.
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BigBasket’s B2C losses widen sharply in FY25; consolidated revenue declines
Entrackr
·
14d ago
Medial
BigBasket’s financial performance deteriorated in FY25, with its core B2C unit posting a steep rise in losses even as overall revenue declined. The platform, backed by Tata Digital, continues to face pressure on multiple fronts, from quick commerce rivals to evolving consumer expectations. According to Tata Sons’ FY25 annual report, Innovative Retail Concepts, which runs BigBasket’s consumer-facing business, saw its operating revenue shrink by 2.7% to Rs 7,673.4 crore from Rs 7,885 crore in FY24. At the same time, its loss widened sharply to Rs 1,850 crore, compared to Rs 1,267 crore in the previous fiscal year, marking a 46% year-on-year increase. The red ink highlights the cost burden BigBasket is incurring as it attempts to reposition itself from a scheduled grocery delivery service to a quick commerce platform. Increased spending on warehousing, logistics, discounting, and customer retention likely contributed to the widening losses. In contrast, Supermarket Grocery Supplies, the company’s B2B arm which handles procurement and backend operations, recorded a 6.9% drop in its revenue to Rs 2,227 crore in FY25, compared to Rs 2392 crore in FY24. However, its losses narrowed down to Rs 102 crore in FY25 from Rs 128 crore in FY24. The two entities cumulatively clocked Rs 9,900 crore in revenue in FY25 from over Rs 10,277 crore in the previous year ended March 2024. More importantly, losses across both businesses totaled Rs 1,952 crore, marking a significant deterioration from FY24’s performance. The performance slide comes despite years of strategic restructuring. BigBasket has merged BB Daily into its core app, launched its quick commerce vertical BB Now, and initiated backend tech and supply chain upgrades. However, execution delays, coupled with the rapid scale of Blinkit, Instamart, and Zepto, have left it lagging in the under-30-minute grocery race. Tata Digital, which acquired a majority stake in BigBasket in 2021, continues to support the business, holding an 84.23% stake. But with losses now deepening and growth stagnating, the platform’s transition into a sustainable quick commerce engine appears far from complete. As demand shifts towards instant delivery, BigBasket’s ability to stem its B2C bleed while maintaining backend stability will determine whether it can claw back relevance in one of India’s most competitive internet categories.
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Tata Group-backed BigBasket plans IPO in two years as business booms
VCCircle
·
5m ago
Medial
India's BigBasket, backed by Tata Group, plans to go public within two years, aiming to capitalize on the increasing demand for quick online deliveries. The company intends to double its business by March 2026 and expand from 35 to about 70 Indian cities. Amidst a booming quick commerce industry, BigBasket, whose revenue is majorly from quick commerce, is also broadening its product range to include electronics, pharmaceuticals, and fashion.
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Tata Sons to invest $1 billion more in digital arm
Economic Times
·
1y ago
Medial
Tata Sons plans to invest $1 billion in Tata Digital over the next few years. The investment comes as Tata Digital reviews its digital strategy with the appointment of a new CEO and puts a pause on external fundraising for its ecommerce entity, Tata Neu. Tata Digital has already received over $2 billion in funding from Tata Sons for Neu, and the company will focus on execution and scale before seeking external investors. The superapp is integrating Air India and will prioritize scaling its fintech vertical. Profitability and addressing customer complaints are key areas of focus.
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Quick grocery has caught on, and BigBasket is smiling
Livemint
·
1y ago
Medial
Bigbasket's quick-commerce arm, BB Now, backed by Tata Digital, expects to become profitable within six months. Although the overall profitability target for the grocery startup has been moved to early 2025, the quick-commerce sector has provided significant growth due to its convenience. Bigbasket aims to maintain profitability by tightly controlling costs and leveraging its existing infrastructure. Competition is fierce in the quick-commerce market, with high cash-burn rates and significant losses to sustain growth. Bigbasket views its quick-commerce arm as a marketing channel to drive more customers to its main grocery business.
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BigBasket B2C unit posts 6% growth in FY24 revenue, cuts losses by 17%
Economic Times
·
11m ago
Medial
Innovative Retail Concepts Pvt Ltd, the B2C unit of BigBasket, posted a 6% YoY growth in operating revenue for FY24, reaching Rs 7,885 crore. It reported a net loss of Rs 1,267 crore, down 17% YoY. The company faces competition from quick commerce players like Blinkit, Instamart, and Zepto in the online grocery delivery space. BigBasket is planning to shift its focus entirely to quick commerce. The company's total expenditure increased slightly, while advertisement income remained flat. Tata Group, which owns majority stake in BigBasket, halted fresh investments to reevaluate profitability strategies. BigBasket aims to raise $80-100 million for expansion plans, including the expansion of dark stores.
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BigBasket turnover declines in FY25 amid rising quick commerce competition - The Economic Times
Economic Times
·
15d ago
Medial
BigBasket, backed by Tata Digital, saw its FY25 turnover drop due to intense competition from Blinkit and Zepto in the quick commerce market. Innovative Retail Concepts’ revenue decreased by 3% to Rs 7,673 crore, with losses escalating to Rs 1,851 crore. Tata Group, which holds a significant stake, previously expressed concerns over BigBasket's performance. The company shifted from scheduled grocery delivery to quick commerce, including a 10-minute delivery service, BB Now.
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