Funding round
bbinstant Series F
bbinstant, which works in online grocery retail and delivery in India, raised $150M in a Series F round announced on 29 Mar 2019, led by Mirae Asset Global Investments and British International Investment, at a $1.20B post-money valuation. 4 firms took part, 1 of them already investors. It is bbinstant's fourth venture round on record; the one before was a Series E in Feb 2018.
$150M
Amount raised
$1.20B
Post-money valuation
$1.05B pre-money
4
Investors
2 leads
1.3x
Step-up from the Series E
$950M in Feb 2018
13%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced bbinstant at $1.20B after the new money, 1.3 times the $950M of its Series E (Feb 2018). The $150M bought investors about 13% of the company. It came 13 months after bbinstant's Series E. It is 24% of the $633M bbinstant has raised in the venture rounds on record. No later venture round is on record for bbinstant.
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 1 Feb 2018, led by Alibaba Group $300M$950M post-money
- Series F this round 29 Mar 2019, led by Mirae Asset Global Investments and British International Investment $150M$1.20B post-money
Investors
Who put money in
Mirae Asset Global Investments and British International Investment led the round with 2 other firms. Alibaba had backed bbinstant before.
Lead investors
- Mirae Asset Global Investments new investor
- backs 48 venture-backed companies new investor
Also in the round
- Alibaba existing investor
- Mirae Asset Venture Investments backs 37 venture-backed companies new 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, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time: Series F rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Ridesharing | 1 Feb 2019 | $1.00B | $10.00B | not named |
| Investment Consultants & Financial Advisors | 5 Feb 2019 | $50M | $660M | IGM Financial Inc. |
| Food delivery | 10 Jan 2019 | $100M | $1.85B | not named |
| Tech Companies | 15 May 2019 | $55M | $850M | Silver Lake Waterman |
| Tech Companies | 1 May 2019 | $50M | $539M | Goldman Sachs |
| Tech Companies | 1 Jan 2019 | $15M | $114M | not named |
| Vestiaire Collective Clothing Stores | 1 Jun 2019 | $45M | not disclosed | not named |
| Mining & Gas Exploration | 20 Jun 2019 | $2.5M | not disclosed | not named |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did bbinstant raise in its Series F round?
bbinstant raised $150M in its Series F round, announced in Mar 2019.
Who led bbinstant's Series F round?
Mirae Asset Global Investments and British International Investment led it, with Alibaba and Mirae Asset Venture Investments.
What was bbinstant's valuation at the Series F round?
$1.20B post-money ($1.05B pre-money).