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BigBasket completes three acquisitions

BigBasket has acquired 100% stake in milk delivery startups RainCan and Morning Cart and a controlling stake in smart vending machines startup Kwik24.

, ET Bureau|
Oct 19, 2018, 07.25 PM IST
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“The micro delivery startup acquisition really helps BigBasket in accelerating our need to bring fresh subscription services to our customers, daily,” said Hari Menon, chief executive of Big Basket.
BENGALURU: Online grocer BigBasket has completed the acquisition of three ventures, several months after raising $300 million from Alibaba and other investors. 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,” said Hari Menon, chief executive of Big Basket. “And Kwik24 acquisition gives us the ability to be closer to the customer by way of the BB Instant smart vending kiosks.”

ET had reported in its May and June edition that BigBasket is in talks to acquire RainCan and Kwik24, respectively.

BigBasket has branded the milk delivery service as BB Daily, a subscription service which allows customers to order milk and other daily essentials the previous night and have them delivered the following morning. With currently piloting in Bengaluru and Pune, the service will soon reach eight metro cities. BigBasket claims to have 20,000 daily subscriptions.

On the other hand, with Kwik24, BigBasket has installed 100 smart vending machines in Bengaluru and plans to expand to other cities shortly. The vending machines are installed as part of the BB Instant service, which allows customers to order fresh produce and other FMCG products through the BB Instant app, and pick it up from the vending machine installed in apartment complexes.

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