BigBasket has started the process for a new round of fundraising that is estimated to value the Tata Digital-owned company at about $3-3.5 billion.

Tata Digital and current investors are most likely to provide BigBasket with its most recent funding. 

Although the round's size hasn't been decided, the people said it will probably be in the range of $200 million or more.

In a secondary deal, Brand Capital, the strategic investment arm of the Times Group, which also publishes this newspaper, sold a portion of its ownership in BigBasket, valued at $2.7 billion.

Immediately following Tata Digital's majority acquisition of BigBasket in May of last year, the company's most recent principal transaction valued it at $2 billion.

Comparing the current valuation of BigBasket to the company's most recent primary cash injection, an increase of about 75% is anticipated.

"The corporation continues to grow at a 40% rate yearly, as anticipated internally before. This fiscal year, which ends in March 2023, the corporation anticipates sales of $1.5 billion.