<p>Tata Group-backed BigBasket has initiated a fresh round of funding that could value the online grocery startup at around $3.5 billion, <em>The Economic Times</em> newspaper reported on Tuesday, citing sources.</p>.<p>Tata Digital Ltd, a unit of Tata Sons, and its investors are likely to lead the new round of funding, which could be as much as $200 million or more, according to three people briefed on the matter who spoke to ET.</p>.<p>In February 2021, Tata Group acquired a 64.3 per cent stake in BigBasket.</p>.<p>BigBasket and Tata Sons did not immediately respond to calls seeking comment.</p>.<p>"The company continues to grow 40 per cent annually as projected earlier internally. This financial year ending March 2023, the company is expected to generate sales of $1.5 billion (net of discounts)," one of the sources told the newspaper.</p>
<p>Tata Group-backed BigBasket has initiated a fresh round of funding that could value the online grocery startup at around $3.5 billion, <em>The Economic Times</em> newspaper reported on Tuesday, citing sources.</p>.<p>Tata Digital Ltd, a unit of Tata Sons, and its investors are likely to lead the new round of funding, which could be as much as $200 million or more, according to three people briefed on the matter who spoke to ET.</p>.<p>In February 2021, Tata Group acquired a 64.3 per cent stake in BigBasket.</p>.<p>BigBasket and Tata Sons did not immediately respond to calls seeking comment.</p>.<p>"The company continues to grow 40 per cent annually as projected earlier internally. This financial year ending March 2023, the company is expected to generate sales of $1.5 billion (net of discounts)," one of the sources told the newspaper.</p>