BigBasket acquires majority stake in three startup ventures

BigBasket has acquired milk delivery startups RainCan, Morning Cart and Kwik24.

Post raising $300 million from Alibaba Online grocer BigBasket has completed the acquisition of three ventures. BigBasket has acquired 100% stake in milk delivery startups RainCan and Morning Cart and a controlling stake in smart vending machines startup Kwik24. This move marks the company’s foray into milk delivery and omnichannel grocery delivery.

“The micro delivery startup acquisition really helps BigBasket in accelerating our need to bring fresh subscription services to our customers, daily. And Kwik24 acquisition gives us the ability to be closer to the customer by way of the BB Instant smart vending kiosks,” said Hari Menon, chief executive of Big Basket while speaking exclusively to leading media agency.