*ALIBABA INVESTS $146 MILLION IN BIGBASKET*

China's Alibaba invests $146 million in Indian online grocer BigBasket

MUMBAI :

A unit of China's Alibaba has invested $146 million in Indian online grocer BigBasket strengthening its position in the country's - Online and retail space in the country's online retail space and potentially posing a challenge to US rival Amazon.com

Alibaba.com Singapore Ecommerce Pvt Ltd led the $196.7 million Series E funding round, which was approved by the BigBasket board in January, regulatory filings seen by Reuters on Friday showed.

Online grocery sales are fast becoming popular in India, with BigBasket, SoftBank-backed rival  Grofers and Amazon's India unit vying for a bigger piece of the  market.

Sands Capital Pvt Growth Ltd, International Finance Corp and Abraaj Basket I Pvt Ltd, also participated in the latest funding round.

[Agencies]