Dunzo Raises $40 Mn In Series E Funding Round Led By Google, Lightbox And Others
The platform plans to execute the company's 2021 strategy and focus on its local commerce platform
Bengaluru-based hyperlocal commerce platform Dunzo on Tuesday announced to have raised $40 million in a funding round led by Google and Lightbox, among others.
The funding round also saw participation from new and existing investors, including Evolvence, Hana Financial Investment, LGT Lightstone Aspada and Alteria, among others, a statement said.
The platform maintains to offer a full-stack of services across commerce (consumables, pet supplies, health, and wellness), courier (pick up and drop), and commute (bike taxi).
The growth in 2020 comes on the back of burly, organic user demand while upholding gross peripheral profitability for the overall business, the statement further added.
“Dunzo’s mission resonated stronger than ever in 2020. We have been amazed by everything merchants and users have started to depend on the platform for. We truly believe we are writing a playbook for how hyperlocal businesses can be built with sustainable unit economics and capital responsibility,” Kabeer Biswas, chief executive officer, and co-founder, Dunzo Digital.
In the last six months, the startup has supported over 300 neighborhoods across eight cities, delivering essential goods to users.
“The company is more focused than ever to enable local merchants to get closer to their users and build one of the most loved consumer brands in the country,” Biswas added.