BigBasket's Secret Moat, Amicus Closes $214 Mn Fund & More

BigBasket’s INR 4,000 Cr Moat

Even before Zepto, Blinkit and Swiggy Instamart came into existence, BigBasket was building a secret moat for itself. Today, its private label business (the secret moat) in online grocery gives it an edge over quick commerce rivals of all shapes and sizes.

A Dark Horse: While competitors are scrambling for market share, BigBasket has silently built a formidable portfolio of in-house brands. From everyday staples and fresh produce to household essentials, private labels accounted for a staggering 40% of BigBasket’s INR 10,062 Cr sales in FY24, generating over INR 4,000 Cr.

This outshines the private label revenues of even ambitious rivals like Zepto’s Relish (which is eyeing INR 500 Cr in top line by 2026) and Daily Good, while Eternal’s Blinkit and Instamart are nowhere in the race.

How BigBasket Built Its Moat: In 2014, the Tata-owned platform introduced private labels, Fresho and BB Royal, and has since expanded the universe of its offerings under these names. For instance: Fresho Meats and BB Royal Organics. Each in-house brand is managed like an independent consumer packaged goods business, which fosters deep customer stickiness and retention.

What also helped is a clear organisational structure, sourcing directly from farmers and an impetus on the leasing model for running warehouses and dark stores to keep costs in check.

Navigating New Frontiers: Despite higher margins and strong customer retention, BigBasket faces new challenges in the quick commerce age, including efficiently managing dark store operations, reining in inventory loss in perishable categories, and the rising tide of competition.

Having weathered many storms in its 14-year run, can BigBasket’s private label moat hold firm in the era of 10-minute grocery wars?

From The Editor’s Desk

Amicus Closes $214 Mn Fund: The PE firm has marked the final close of Fund II, which initially had a $200 Mn corpus. The fund has already made investments in Aequs, Equirus Capital & Manipal Payments & Identity and aims to back 10-12 high-growth companies.

ArisInfra’s Dismal Debut: Shares of the B2B construction marketplace listed at INR 209 on the BSE, a 5.81% discount over its issue price of INR 222. ArisInfra eventually closed its maiden trading session at INR 174.10 on the BSE, down 21.6% from the issue price.

NPCI’s FY25 Profit Zooms: The payments body saw its profits jump 42% to INR 1,552 Cr in FY25 from INR 1,095 Cr in the previous fiscal year. Meanwhile, operating revenue rose 19% to INR 3,270 Cr from INR 2,749 Cr in FY24.

Exodus Continues At ONDC: Independent director at the state-backed ecommerce network, Arvind Gupta, has stepped down from his post after a three-year stint. Earlier this year, CEO T Koshy and chief business officer Shireesh Joshi parted ways with ONDC.

WEF’s India Tech Pioneers: Ten Indian startups, including Digantara, Agnikul and The ePlane Company, have been selected for the World Economic Forum’s 2025 cohort of tech pioneers. The startups will now contribute to WEF initiatives via a two-year engagement programme.

EMT’s Medical Tourism Bid Goes Awry: Easemytrip’s bid to acquire a stake in Rollins International has fallen through as the healthcare company has pulled out of the acquisition deal. Last year, the OTA signed a deal to acquire a 30% stake in Rollins for INR 60 Cr.

New Cofounder At MyGate: The community and security management startup has elevated its chief business officer, Rohit Jindal, to the role of a cofounder. MyGate provides security solutions for gated communities, managing entry and exit points through its app-based system.

Ex-Swiggy CTO’s Venture Nets Funds: Trading platform Sahi, founded by Dale Vaz and Manish Jain, has raised $10.5 Mn in a round co-led by Accel and Elevation Capital. The startup offers professional-grade trading tools and AI-driven insights to traders.

Inc42 Startup Spotlight Can Green Aero Build India’s First Hydrogen-Powered Jet Engine?

Powered primarily by fossil fuels, the world’s aviation and shipping sector accounts for 10% of global carbon emissions. To address this, Prithwish Kundu and Anushila Chatterjee founded Green Aero Propulsion, which develops hydrogen-based propulsion systems and advanced gas turbines.

Solving Climate Crisis With Hydrogen: The IIT Delhi-incubated startup aims to replace traditional fossil-fuel engines with cleaner, high-efficiency alternatives for both energy and defence applications. In May, the startup demonstrated its first hydrogen-powered jet engine, The Blue Dragon.

What’s Next? The startup is developing next-generation propulsion systems with long-term national security and sustainability implications. The startup aims to disrupt the aerospace and defence sector with its engines and sustainable propulsion systems.

Can Green Aero Propulsion carve its niche with sustainable propulsion engines?

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