Dunzo Raises $45 Million From Lightbox Ventures, Google And Others
The funding pegs Dunzo’s valuation at $180-200 million. The startup has so far raised a total of $81 million.
Local delivery marketplace Dunzo on Friday said it has raised $45 million in a fresh funding round from Lightbox Ventures, Google, 3L Capital, and STIC Investment and STIC Ventures.
The funding pegs Dunzo’s valuation at $180-200 million. The startup has so far 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,” the startup said in a statement.
This round of investment stems from Dunzo's 40 times growth in the last 18 months and a business model that focuses on unit profitability. The Bengaluru-headquartered firm is clocking in more than two 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," Kabeer Biswas, co-founder and chief executive officer at Dunzo, said in the statement.
The company is on course to build the largest commerce platform in the country with the most efficient logistics solution for each city, he added.
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.
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It is present in Bengaluru, Mumbai, Delhi NCR, Chennai, Hyderabad, Jaipur and Pune. It also has bike taxi services in Gurugram, Hyderabad and Noida.