Dunzo, an on-demand delivery startup, based out of Bengaluru, has raised approximately ₹2.99 crore in Series C funding round, reported Inc42.
According to the sources, the investment has been made from DU Fund, a US-based pooled investment fund manged by Belltower Fund Group Ltd.
“With regards to speculative funding news, we at Dunzo have constantly wanted to steer the narrative and conversation in the ecosystem to a better product, user experience and what makes a dent in the business,” an anonymous source said.
Dunzo was founded in 2015 by Ankur Aggarwal, Dalvir Suri, Mukund Jha, and Kabeer Biswas. It is an AI-driven chat-based hyperlocal services app which enables users to create to-do lists and collaborate with partners (vendors) to get them done.
The company claims that Dunzo has a repeat user rate of 80% and a transaction frequency of 5 orders per month per user. The company aims to get micro-market profitable at an order level in the next quarter.
In the last 18 months, Dunzo claims to have grown 30x and is expecting to service upwards of 2 million orders per month by June 2019.
Till date, the company has raised over $30.3 million funding.
Besides, Swiggy, Zomato, UberEats, FoodPanda, Faasos, Freshmenu, Box8, Cookaroo, Holachef, are similar category-based on-demand delivery startup in India.