Accelerating its vision to be the largest commerce platform in India, hyperlocal delivery startup Dunzo, has bagged $45 million in a fresh round from Google, Lightbox Ventures, 3L Capital and STIC Investment & STIC Ventures, cited Yourstory.
The company Dunzo said that the capital will further Dunzo’s vision to be the largest commerce platform in the country. This round of investment stems from Dunzo’s 40X growth in the last 18 months, and a business model that focuses on unit profitability, it added.
Dunzo will also be deploying the funds to establish itself as the logistics player in India, picking up and dropping almost anything and everything a consumer would want to buy and ship while integrating merchants and delivery partners on the platform.
Kabeer Biswas, CEO & Co-Founder, Dunzo, said, “Dunzo has always focused on building a reliable business model while ensuring consumer empathy in every action that we take as a platform. Over the last year, we have built a model that understands Indian cities deeply and empowers offline commerce to deliver to consumers instantly. We believe in giving local merchants a fighting chance while creating sustainable earning opportunities for delivery partners. We are on course to build the largest commerce platform in the country with the most efficient logistics solution for each city.”
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.
Dunzo claims that it is clocking over 2 million deliveries month-on-month, with an average delivery taking 28 mins across its nine cities.
According to the platform, Dunzo’s core strength is to digitise India’s offline commerce in the top 25 cities in the country.