Total amount raised
$457.2 Millions
Latest funding date
Location
Title
Dunzo has successfully raised significant funding through multiple rounds, with its latest being Series F. The platform offers a hyper-local delivery service, connecting users to nearby delivery partners for a variety of needs, including groceries, food, and medicines.
Keep reading to explore the intricacies of Dunzo's fundraising journey and the investors backing this innovative platform.
What Is Dunzo?
Dunzo, founded in 2015 in Bengaluru, Karnataka, India, is a hyper-local delivery app that connects users to nearby delivery partners. The platform offers a range of services, including the delivery of groceries, food, medicines, and pet supplies.
The company was established by Ankur Aggarwal, Dalvir Suri, Kabeer Biswas, and Mukund Jha. It aims to streamline eCommerce for micro, small, and medium-sized enterprises (MSMEs) by providing digital tools and solutions.
With a team of 11-50 employees, Dunzo continues to innovate in the retail landscape, making everyday tasks more convenient for city dwellers.
How Much Funding Has Dunzo Raised?
- Series C
- Amount Raised: ₹29.9M
- Date: June 2019
- Lead Investors: Belltower Fund Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its service offerings and improve delivery infrastructure.
- Debt Financing
- Amount Raised: $2.8M
- Date: August 2019
- Lead Investors: Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and enhance delivery capabilities.
- Series D
- Amount Raised: $45M
- Date: October 2019
- Lead Investors: Lightbox
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Debt Financing
- Amount Raised: $11M
- Date: February 2020
- Lead Investors: Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To maintain liquidity and support business growth.
- Series E
- Amount Raised: $28M
- Date: September 2020
- Lead Investors: Google, Lightrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand delivery network.
- Series E
- Amount Raised: $12M
- Date: January 2021
- Lead Investors: Alteria Capital, Google
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To improve service efficiency and customer experience.
- Series E
- Amount Raised: $8M
- Date: March 2021
- Lead Investors: Krishtal Advisors, Ranjan Patwardhan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expansion and technology upgrades.
- Series E
- Amount Raised: $240M
- Date: January 2022
- Lead Investors: Reliance Retail
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance market presence.
- Debt Financing
- Amount Raised: ₹500M
- Date: November 2022
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To maintain liquidity and support business growth.
- Series F
- Amount Raised: $75M
- Date: April 2023
- Lead Investors: Google
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To revamp business model and achieve profitability.
Total amount raised: $421.8M. Current valuation: Not publicly disclosed.
Key Investors
- Google
- Details: Google is a multinational technology company specializing in Internet-related services and products. It is known for its search engine, online advertising technologies, and various software and hardware products.
- Investment Focus Areas: Technology, digital services, cloud computing.
- Notable Investments: Waymo, DeepMind, Verily.
- Reliance Retail
- Details: Reliance Retail is a subsidiary of Reliance Industries, one of the largest retail companies in India. It operates a wide range of retail stores across various sectors.
- Investment Focus Areas: Retail, e-commerce, consumer goods.
- Notable Investments: JioMart, Urban Ladder, Netmeds.
- Lightbox
- Details: Lightbox is a venture capital firm that invests in early-stage consumer technology companies. It focuses on helping startups scale and grow.
- Investment Focus Areas: Early-stage consumer technology, e-commerce, digital media.
- Notable Investments: Rebel Foods, Furlenco, Melorra.
- Alteria Capital
- Details: Alteria Capital is a venture debt fund that provides financing solutions to high-growth startups in India. It aims to support companies through various stages of their growth.
- Investment Focus Areas: High-growth startups, venture debt, technology.
- Notable Investments: Dunzo, Lendingkart, ZestMoney.
- BlackSoil
- Details: BlackSoil is an alternative credit platform that provides debt financing to high-growth companies. It focuses on offering flexible financing solutions.
- Investment Focus Areas: Debt financing, technology, healthcare.
- Notable Investments: Dunzo, OYO, LetsTransport.
What's Next for Dunzo?
As Dunzo navigates its path forward, the company is focusing on streamlining operations and partnering with supermarkets to enhance efficiency. This strategic shift aims to capitalize on the growing demand for superfast delivery services, a market that continues to expand rapidly.
With $75 million in recent funding and potential future investments from entities like the Abu Dhabi Investment Authority, Dunzo is well-positioned to scale its operations. However, achieving profitability within the next 18 months remains a significant challenge, especially after laying off 30% of its workforce. The competitive landscape for quick commerce will test Dunzo's resilience and adaptability.
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