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Bigbasket Gets Funds From Alibaba, Mirae As Investors Bet On Indian Startups - Nikkei Asian Review

by asia.nikkei.com posted 2months ago 12 views
MUMBAI (NewsRise) -- Indian online grocery retailer BigBasket received funds worth $150 million from Alibaba Group and other global investors, signaling the rebound in interest in south Asian nation's online startups. Venture investments in India start-ups slowed down over the past quarter as investors remained cautious of the regulatory changes in the country. The government had, in December, overhauled the foreign investment rules for the country's fast-growing e-commerce sector that curbed online retailers from selling products of companies in which they have equity interest.

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