After Paytm Mall, PhonePe, now Dunzo, a hyperlocal delivery startup, has reported a net loss of INR 168.9 crore in FY19, which is an eight times more than loss of INR 21.9 crore in year 2017-18, reported Mint.
Whereas, the revenue of Dunzo, surged to INR 76.59 lakh in FY19, which is a five times rise from INR 15.81 lakh in FY18.
The platform Dunzo declared that its expenses also increased by around eight times to INR 172.5 crore in FY19, primarily led by an increase in other expenses, which stood at INR 126.2 crore.
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.