Hyperlocal delivery startup Dunzo in talks to raise up to $50 million
5 May 2019 6:31 PM GMT
Mint had reported on 8 March that Dunzo was in the final stages of closing a round of financing.Dunzo was Google?s first direct investment in India: The tech giant led a $12-million investment round in it
- The startup, launched on WhatsApp in 2015 by Kabeer Biswas, Ankur Aggarwal, Mukund Jha, and Dalvir Suri, provides a platform for people to get tasks done and products delivered.
- "It's a great consumer service but there is no way to monetize it and in areas in which it can be monetized, such as food delivery, bike taxi and grocery delivery, it already has strong players to compete with," the investment banker said.
- The firm recently received an infusion as part of its Series C round from Greyhound Capital and a few others, according to its regulatory filings, sourced from data-intelligence platform Paper.vc.
- Earlier this year, food-delivery company Swiggy announced its foray into hyperlocal delivery with the launch of Swiggy Stores, which could be a possible concern for Dunzo's business, according to industry analysts.
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