Indian online grocer Bigbasket, which raised $150 million in March, plans to approach investors again early next year.
Insiders say it will possibly be the last funding round before an IPO, reports Deal Street Asia.
CEO Hari Menon has confirmed the funding round but declined to say how much the company aims to raise.
Bigbasket, which has broken even in the Bengaluru market, will use the cash from its next round to develop its private-label brands, insiders say. Improving its private-label offering could help the grocer break even in tier-one cities.
According to a Mint report, Bigbasket has 25 warehouses and 63 storage depots. The company claims to have 3 million repeat customers.