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Alibaba Seeks Government Approval To Invest In BigBasket

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Alibaba.com, the China based ecommerce website, has sought for approval from the Competition Commission of India (CCI,) to buy stake in the online grocery startup, BigBasket. Alibaba.com Singapore ECommerce Pvt., Ltd., is a subsidiary of Alibaba Group Holding Ltd.

VCCircle reported, Alibaba.com will infuse the funds in Supermarket Grocery Supplies Pvt., Ltd., which owns BigBasket. However, the eretail firm is run by Innovative Retail Concepts Pvt., Ltd. Recently, multiple media reports suggested, Alibaba and digital wallet startup, Paytm, might invest close to $200 million in BigBasket. However, sources clarified Paytm may not invest in BigBasket as earlier speculated. Nevertheless, Alibaba’s investment in the company will give Paytm an indirect toehold in India’s online grocery industry.

The Indian Internet food retail industry is on track to hit $1 billion in 2017 and may even be valued at $ 1.2 trillion by 2020, according to a report by the research firm RedSeer. The online grocery market currently accounts for 48% of India’s total retail consumption. Last week, homegrown ecommerce giant Flipkart, also launched its grocery delivery service, Supermart, in Bengaluru to capture a share of the lucrative market. Backed by SoftBank, Flipkart has the added advantage of a $ 4 billion investment and strong tech capabilities.

Along with Flipkart, BigBasket faces strong competition from Groffers and Amazon. This investment by Alibaba will also affect Amazon’s growing presence in the Indian ecommerce market. While Amazon’s talks for a potential investment in BigBasket fizzled out, the global ecommerce giant received the government’s approval for a $ 500 million foreign direct investment. In August this year, it was also reported Amazon might investment in Grofers, but, they were termed as “rumor and speculation” by a spokesperson.

Founded by V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh and Abhinay Choudhari, BigBasket raised about $ 305.8 million in investments in six funding rounds since 2011. The eretail firm also claims to have over 5 million registered customers and has a presence in over 30 cities in India. At present, BigBasket offers over 20,000 products from 1000 brands and claims to receive over 50,000 orders each day. For the financial year 2017, the company reported a revenue of Rs. 1,400 crores.

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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe

PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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Piyush Anchliya Joins Cashfree as CFO Amid Fintech Boom

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Cashfree Payment - StartupStories

Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer (CFO), effective April 15, 2025. Anchliya brings over 15 years of experience in investment banking, corporate finance, strategy, and mergers and acquisitions, with senior roles at Barclays, Bandhan Group, and most recently as CFO of Bandhan AMC. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.

In his new role, Anchliya will lead Cashfree’s financial strategy, optimize operations, and support the company’s next growth phase. He will report to CEO and Co-founder Akash Sinha, who highlighted Anchliya’s expertise as vital for sustainable scaling and strengthening the company’s financial foundation. Anchliya succeeds outgoing CFO Vikas Guru, who will assist during the transition.

Founded in 2015, Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. The company recently raised $53 million in funding led by KRAFTON and Apis Growth Fund II and secured key RBI licenses, positioning it for accelerated growth in India’s fintech sector. Anchliya’s appointment comes at a pivotal time as Cashfree aims to expand its leadership in digital payments.

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Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

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Flipkart - StartupStories

Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

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