SuperMarket Grocery Supplies, the parent company that owns and operates the online food and grocery platform – BigBasket, has successfully closed its venture funding round with Rs.45 Crore from Trifecta Capital. The company will invest the latest funds used to meet its-capex requirements such as setting-up new warehouses, strengthening the cold chain and setting-up facilities for reprocessing of Fruits & Vegetables. “A significant part of our business is fresh fruits and vegetables, the bulk of which is sourced directly from farms.

We are in the last leg of a pilot which will ensure that all fruits and vegetables are maintained at constant temperature and there by improve shelf life of the produce by almost 10 days. This will be done using large scale equipment such as pre-coolers and ventilators. Funding such capex requirements is best done through debt,” says Hari Menon, Co-Founder, BigBasket.

Headquartered in Bengaluru, BigBasket is one of India’s pioneer and leading online supermarket that enables users to order high quality items of their choice and have it delivered to their doorstep. Currently, the portal has over 18,000 different foods and grocery items from 1000+ brands listed across an array of categories such as Fruits & Vegetables, Rice &Dals, Spices & Seasonings, Packaged products, Beverages, Personal care products, Meats, and many others.

Till date, BigBasket has raised a total of $291.76 million in eight funding rounds. In March last year, the company had raised $150 million in its series D round led by Abraaj Group.

Commenting on the investment, Rahul Khanna, Co-Founder of Trifecta Capital, says, “Trifecta’s strategy is to provide customized debt solutions to companies based on their specific business needs. We are constantly looking for innovative ways to add value to our investee companies”.