Dunzo raises over Rs 319 cr in fresh funding from Lightbox, Google, others

Topics Dunzo | Lightbox

Up until now, Dunzo has been an urban phenomenon

Local delivery marketplace Dunzo on Friday said it has raised $45 million (over Rs 319 crore) in a fresh funding round from Lightbox, Google, 3L Capital, and STIC Investment & STIC Ventures.

The funding values the company at $180-200 million. Dunzo has raised a total of $81 million.

"Dunzo will deploy the funds to establish itself as the logistics layer for India, picking up and dropping almost anything and everything a consumer could want to buy and ship while integrating merchants and delivery partners on the platform," a statement said.

This round of investment stems from Dunzo's 40X growth in the last 18 months and a business model that focuses on unit profitability, it said, adding that the Bengaluru-headquartered firm is clocking in more than 2 million deliveries month on month.

"Over the last year, we have built a model that understands Indian cities deeply and empowers offline commerce to deliver to consumers instantly. We believe in giving local merchants a fighting chance while creating sustainable earning opportunities for delivery partners," Dunzo CEO and co-founder Kabeer Biswas said.

He added that the company is on course to build the largest commerce platform in the country with the most efficient logistics solution for each city.

Founded in 2015 by Kabeer Biswas, Mukund Jha, Dalvir Suri and Ankur Aggarwal, Dunzo connects merchants, partners, and users to facilitate transactions across courier, commerce, and commute.

It is present in Bengaluru, Mumbai, Delhi-NCR, Chennai, Hyderabad, Jaipur, and Pune. It also has bike taxi services in Gurugram, Hyderabad, and Noida.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel