Global growth markets investor The Abraaj Group has led a US$150 million funding round for India-based online grocery company BigBasket. Other participants in the round included development finance institution International Finance Corporation (IFC), which contributed US$19.3 million; growth investment firm Sands Capital Management; and venture capital firms Bessemer Venture Partners, Helion Venture Partners, Zodius Capital and Ascent Capital. BigBasket plans to use the new capital to finance its growth in existing markets and its expansion in Tier II cities across India, as well as to scale up its express delivery and specialty store business and expand its product range.