BigBasket raises $300 million at a valuation of $950 million

Bengaluru-based online grocer BigBasket has raised $300 million in a funding round led by Chinese e-commerce giant Alibaba, the startup's CEO Hari Menon said. The investment has valued the company at $950 million, Menon added. BigBasket's existing investors Abraaj Group and Bessemer Venture Partners also participated in the funding round.