The Silicon Review
13 November, 2018
Dunzo, the app which is trying to make life easier for the people upto some extent plans to raise about Rs. 183 crore from different investors which also includes Tech giant Google. The company is in talks with the companies to start the funding process.
What is Dunzo?
Dunzo is a hyperlocal concierge and delivery services app launched in Bangalore. There are almost 4,000 Dunzo riders across Bangalore, covering 70 to 80 percent of the city and the company intends to increase the riders by the end of 2018.
Dunzo’s funding announcement comes at a time when Swiggy, the food delivery plans to roll out a new service beyond its core food-delivery service. Most likely, the funding round would be a part of the extended funding initiative and Dunzo is expected to be valued at about $ 100M after the funding process. The value could increase by three times if the fundraising is successful. Previously, the three-year-old start-up raised capital in December 2017.
According to sources, tech giant Google will likely lead or co-lead the upcoming funding round. Last year, the company led a $12M equity financing in Dunzo (its first direct investment in India). The company is interested to inject about $10m in Dunzo.
On a pro-rata basis, Dunzo’s existing early-stage investment firms Blume ventures and Aspada Investment Advisors will also take part in the funding process.
The funding will help Dunzo to expand its services and make the business more stable.
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