Daily-task-management app Dunzo Digital raises funds worth $6.5 million

Daily-task-management app Dunzo Digital raises funds worth $6.5 million

Including Deep Karla, CEO of online travel assist portal MakeMyTrip, the daily task management and delivery app Dunzo Digital has managed to have more investors coming in and the company has managed to raise funds of $6.5 million(approx. 46 crores)

This start up, before coming in operation in 2015, was a dream by 4 young entrepreneurs Kabeer Biswas, Ankur Aggarwal, Dalvir Suri and Mukund Jha. Dunzo is designed as a chat-based task management solution provider, which helps the customer in many services like food deliveries, local courier services, home services like purchase of grocery etc.

Dunzo is the first Indian startup to have Google’s direct investment. The major funding happened to Dunzo was in 2017 December when Google invested $12.3 million (Rs.80.8 crore) through its parent firm Alphabet Inc, which invests separately in Indian Startups via CapitalG, its growth equity fund.

With in the last couple of months, the company has secured funding through mix of equity and debt in multiple tranches. The company hasreceived Rs 12.10 crore ($1.7 million) from venture debt provider Alteria Capital in January this year. Besides other individual investors, bigger names including Kalra, Bandi Parthasaradhi Reddy (Chairman of Hetero, Hyderabad-based drugmakers) and Pune-based company Raintree Family Office has shown up their interest in Dunzo by investing and thus the company raised Rs 34 crore ($4.78 million) as investment earlier this month.These latest infusion comes a couple of months after the company had raised $6 million (Rs.44.09 crores) from existing investors Google, VC firm Blume Ventures and Alteria Capital.

Industry experts estimates that this four-year-old startup has a sum at a valuation of $50-$51 million (around Rs 357 crore). Dunzo is currently operational in Bengaluru, Pune, Gurugram, Hyderabad, Delhi and Chennai and offers its services through a mobile app, which is available on both Android and iOS platforms. 


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