Funding round
bbinstant Series E
bbinstant, which works in online grocery retail and delivery in India, raised $300M in a Series E round announced on 1 Feb 2018, led by Alibaba Group, at a $950M post-money valuation. 7 firms took part, 7 of them already investors. It is bbinstant's third venture round on record; the one before was a Series D in Mar 2016.
$300M
Amount raised
$950M
Post-money valuation
$650M pre-money
7
Investors
1 lead
32%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced bbinstant at $950M after the new money. The $300M bought investors about 32% of the company. It came 23 months after bbinstant's Series D. It is 47% of the $633M bbinstant has raised in the venture rounds on record. bbinstant raised again 13 months later: a Series F round of $150M in Mar 2019, at $1.20B post-money.
bbinstant's funding rounds
bbinstant has 4 venture rounds on record and 1 other deal. This one is highlighted.
- Series B 12 Sep 2014, led by Helion Venture Partners and Zodius Capital $33M
- Series D 24 Mar 2016, led by The Abraaj Group $150M
- Debt not a venture round 31 Mar 2017 $6.9M
- Series E this round 1 Feb 2018, led by Alibaba Group $300M$950M post-money
- Series F 29 Mar 2019, led by Mirae Asset Global Investments and British International Investment $150M$1.20B post-money
Investors
Who put money in
Alibaba Group led the round with 6 other firms. Alibaba Group, Abraaj Group, Sands Capital and International Finance Corporation and 3 more had backed bbinstant before.
Lead investor
- Alibaba Group existing investor
Also in the round
- Abraaj Group existing investor
- Sands Capital backs 71 venture-backed companies existing investor
- International Finance Corporation backs 92 venture-backed companies existing investor
- Bessemer Venture Partners backs 412 venture-backed companies existing investor
- Helion Ventures existing investor
- backs 42 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Groceries, then Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Gousto Groceries | 11 Jan 2019 | $23M | not disclosed | not named |
| Ridesharing | 26 Feb 2018 | $1.50B | $5.00B | GV |
| Cabify Ridesharing | 23 Jan 2018 | $160M | $1.40B | not named |
| Insightec Medical Supply Manufacturers | 31 Jan 2018 | $150M | not disclosed | Koch Disruptive Technologies |
| Health Care Services | 23 Jan 2018 | $33M | not disclosed | Bison Capital |
| Mining & Gas Exploration | 22 Jan 2018 | $5.0M | not disclosed | not named |
| Tech Companies | 5 Apr 2018 | $60M | $270M | Bain Capital Ventures |
| Restaurants | 7 Dec 2017 | $18M | not disclosed | Miller Investment Management |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did bbinstant raise in its Series E round?
bbinstant raised $300M in its Series E round, announced in Feb 2018.
Who led bbinstant's Series E round?
Alibaba Group led it, with Abraaj Group, Sands Capital, International Finance Corporation, Bessemer Venture Partners and Helion Ventures and 1 more.
What was bbinstant's valuation at the Series E round?
$950M post-money ($650M pre-money).
Did bbinstant raise again after this round?
Yes: a Series F round in Mar 2019 of $150M at $1.20B post-money.