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Alibaba, Temasek and Fosun In Talks To Pick Up Stake In BigBasket

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Alibaba,Temasek and Fosun Stake in Bigbasket, Chinese ecommerce Alibaba,Paytm Mall,Temasek Holdings,Sanjiang Shopping Club,2017 Latest Business New,Startup News India

The Chinese ecommerce major Alibaba has reportedly joined investee Paytm Mall in their talks to pick up a stake in the online grocery retail startup, BigBasket. The Economic Times reported the online grocer is also holding talks with Singapore’s sovereign wealth fund Temasek Holdings and China’s Fosun Group along with Alibaba.

Paytm Mall, according to media reports, was also in talks with BigBasket for buying a minority stake by investing about $ 200 million in the homegrown startup. Alibaba Group Holdings have a majority ownership of the digital payment platform Paytm’s ecommerce arm.

According to Economic Times, Alibaba and Paytm plan to invest $ 200 million in BigBasket at a post investment valuation of nearly $ 900 million. They have also started the due diligence for this potential investment. Kinzon Capital which is the venture capital arm of Fosun is in discussions with BigBasket to join the ongoing funding round with an investment of about $ 20 – $ 30 million.

It is unclear if the Singapore based wealth fund, Temasek will join this round of funding or if they will directly invest in BigBasket later. Economic Times also reported, an associate on behalf of Temasek said, “As matter of policy, we do not comment on market speculation and rumours,” in response to their queries.

BigBasket was also reportedly in talks with Amazon for a sellout which fell through due to differences over valuation. The global ecommerce giant recently also got the government’s approval to invest $ 500 million in the food retail sector. Ecommerce rival Alibaba has also been doubling down on grocery and physical retail investments globally. They recently acquired the Singapore based online grocer RedMart and have invested $ 305 million in offline discount supermarket chain Sanjiang Shopping Club in China.

Hari Menon, Abhinay Choudhari, V.S. Sudhakar, Vipul Parekh and V.S. Ramesh founded the online grocery retail startup in 2011. Investment bank Morgan Stanley is advising BigBasket in these talks.

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Dunzo Gets Breather as NCLT Rejects Insolvency Petition from Invoice Discounters

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Dunzo

The National Company Law Tribunal (NCLT) Bengaluru bench has dismissed an insolvency plea filed against quick commerce startup Dunzo by its invoice discounters, declaring the petition “not maintainable” after several postponements. This decision offers temporary relief to Dunzo, which has been facing multiple insolvency petitions from various creditors, including Velvin Packaging Solutions and Betterplace Safety Solutions, over unpaid dues.

The invoice discounters alleged that Dunzo had paid only 50% of the required amounts, though the exact sum was not disclosed. Despite ongoing settlement talks, no resolution was reached, and the tribunal noted Dunzo’s delays in responding to creditor petitions. Dunzo continues to grapple with severe liquidity issues, delayed payments, and significant losses—reporting a ₹1,801.8 crore loss in FY23 and owing approximately ₹11.4 crore to major vendors like Google India and Facebook India.

While this NCLT ruling provides Dunzo some breathing room, the company still faces ongoing financial and operational challenges as it works to resolve its outstanding liabilities.

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How a Golden Retriever Became the Heart and Soul of a Hyderabad Startup’s Workplace

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Golden Retriever in workplace

Hyderabad-based startup Harvesting Robotics has won hearts online by appointing a golden retriever named Denver as its Chief Happiness Officer (CHO). Denver, introduced by co-founder Rahul Arepaka in a viral LinkedIn post, has quickly become the star of the office, spreading joy and boosting morale among employees. The company is now officially pet-friendly, a move Arepaka calls their “best decision.”

Denver’s new role has sparked widespread attention, with thousands liking and commenting on the announcement. Many see Denver’s presence as more than just a cute story—it highlights a growing trend of pet-friendly workplaces that prioritize employee well-being and happiness. As companies increasingly focus on holistic wellness, Denver’s appointment shows that sometimes, a wagging tail is the best way to brighten the workday.

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Info Edge Shareholders Approve ₹1,000 Crore Investment in New Venture Fund

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Info Edge

Info Edge (India) Ltd shareholders have overwhelmingly approved an investment of up to ₹1,000 crore in the company’s third venture capital fund, Info Edge Ventures Fund III. The proposal received near-unanimous backing, with 99.9995% of valid votes in favor out of 1,274 participants.

Smartweb Internet Services Ltd, a wholly owned Info Edge subsidiary, will act as sponsor and investment manager for the new fund. This move strengthens Info Edge’s commitment to backing early-stage startups and expanding its footprint in India’s venture capital landscape.

Info Edge has a strong track record as an early investor in leading Indian startups like Zomato and PB Fintech, with combined holdings in these firms valued at ₹31,500 crore ($3.7 billion) as of March 31, 2025.

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