Hyperlocal concierge app Dunzo is readying to fend off challengers consisting of Swiggy Stores, Grofers, and BigBasket within the hyperlocal delivery space.
The Bengaluru-primarily based organization is near securing INR 80 Cr ($eleven. Five Mn) in a Series C investment spherical led by Google, Blume Ventures, Altera Capital, Greyhound, and Beeline in this ongoing Series C spherical, a Ministry of Corporate Affairs submitting confirmed.
While Google is investing INR 34.5 Cr, Algeria is investing INR 7 Cr. Blume Ventures, Beeline, and Greyhound invest INR 6.9 Cr annually in this round.
According to the Ministry of Corporate Affairs filings, Dunzo Digital Pvt Ltd, the parent agency of Dunzo, has issued 14,235 Series C CCPS worth INR 75.34 Cr and 500 nonconvertible debentures well worth INR five Cr.
While Altria Capital picked up 500 debentures to difficulty assignment debt of INR five Cr, it also participated in the INR 75 Cr investment round with other buyers.
The agency has valued every percentage at INR 52,927.20, according to its valuation file dated February 15, 2019.
The employer filings confirmed that the funds had been raised for the furtherance of the business and by the business plan that allows you to acquire the purposes, which include putting in place infrastructure and day-to-day operations and for the motive of product development of the organization.
Done was founded in 2015 through Ankur Aggarwal, Dalvir Suri, Mukund Jha, and Kabeer Biswas and is an AI-driven chat-based hyperlocal offerings app that allows users to create to-do lists and collaborate with partners (vendors) to get them carried out.
It leverages AI to provide carriers for transporting applications, buying products, repairing stuff, and domestic offerings. Users can also complete their private duties through the app, which may consist of paying bills, getting car offerings, and repairing things, amongst many more.
As of October 2018, Dunzo claimed to have finished over 1 Mn transactions with a median of 30K today, especially from 4 towns — Gurugram, Hyderabad, Pune, and Chennai.
The employer closing raised $422K (INR three Cr) from MakeMyTrip founder Deep Kalra and $3.1 Mn (INR 22. Forty-nine Cr) in its Series C investment round from a collection of famous traders.
