Task management startup Dunzo raises ₹7 crore from Alteria Capital in debt funding

Dunzo

Bengaluru-based daily tasks management startup Dunzo has raised ₹7 crore in debt funding from venture debt firm Alteria Capital, as reported by VCCircle. The funds were raised by issuing secured non-convertible debentures.

The funds raised will be used for general corporate purposes and expanding its service offerings.

Hyperlocal delivery startup Dunzo was founded by Ankur Aggarwal, Dalvir Suri, Kabeer Biswas and Mukund Jha in 2015. The startup provides an app platform to enable users to create different tasks, track progress of the tasks, including easy payment method.

Among its wide array of services includes paying bills, getting groceries, picking up laundry, getting car services, phones repaired, among others tasks. The startup is currently operational across Bengaluru, Pune, Gurugram, Hyderabad, Delhi, and Chennai.

In FY17, the startup posted a turnover of ₹98.5 lakh, rising from merely ₹71,000 in FY16. It further saw net loss rise to ₹10.75 crore in FY17, up by five-fold from ₹2.13 crore in FY16.

Dunzo last raised $12.3 million in a funding round led by Google, along with participation from Blume Ventures and Aspada, in December 2017. Prior to this, in November 2016, Dunzo had raised $1.2 million in a funding round led by Aspada.

Dunzo’s latest investor Mumbai-based Alteria Capital was founded by former InnoVen Capital executives Vinod Murali and Ajay Hattangdi, in 2017.

Some of Alteria Capital’s recent investments include fashion startup Universal Sportsbiz, scooter rental startup Vogo, edtech startup Toppr, and RAW Pressery.

Earlier last month, Alteria Capital marked the second close of its maiden fund at ₹625 crore. The fund called Alteria Capital India Fund I has set a target corpus of ₹1,000 crore, including a greenshoe option of ₹200 crore.

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