Ascent invests $10m in Indian online grocery store
Ascent capital has committed $10 million to a series A funding round for Bigbasket.com, an Indian online grocery store. The transaction is said to be the largest ever Series A round for an e-commerce company as well as the first institutional investment in an online grocery retailer.
The Bangalore-based private equity firm's investment is also its first in a technology company in five years. Recently, Ascent, which has $600 million in assets under management, has focused more on infrastructure,...
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