Dunzo might raise $150 million funding from investors, says report

• In January 2021, Dunzo had raised $40 million from Google, Lightbox, Alteria Capital, among others, as part of its Series E funding round.
• So far, the startup has raised over $140 million in funding.
• It provides a wide range of delivery services to customers such as groceries, food, medicines, pet supplies, etc.

After concluding a $40 million funding round, Bengaluru-based hyperlocal delivery startup Dunzo is in another development of raising around $150 million funding in 2021 and aiming to generate over $1 billion in revenue in the next couple of years, according to the Bloomberg report.

Previously, Dunzo had raised $12 million as part of its $40 million Series E funding round from investors, including Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, Alteria Capital, 3L Capital, Pivot Ventures, among others. To date, the startup has raised over $140 million in a mix of debt, corporate, and venture rounds.

Founded in 2015 by Kabeer Biswas, Ankur Agarwal, Dalvir Suri, and Mukund Jha, Bengaluru-based Dunzo provides a wide range of delivery services to its customers such as groceries, food, medicines, pet supplies, etc. It currently operates in Mumbai, Bengaluru, Pune, Hyderabad, Jaipur, Gurugram, New Delhi, and Chennai. It is also planning to expand its service into other cities in 2021.

During the COVID-19 lockdown, the startup has witnessed strong growth in user demand and has recorded a 2x GMV (gross merchandise value) growth in 2020 over the previous year. It has also reported that it is now nearly $100 million in annualized GMV business.

However, Dunzo is burning up to $2.5 million a month, though the co-founder Kabeer Biswas expects Dunzo to become profitable in the next 24 to 30 months.

Also Read: Dunzo; Raises $28M in Series E Round Led by Google, Lightstone

It counts Google, investors including Blume Ventures, Kalpavriksh, Greyhound Capital, Patni Wealth Advisors, Stic Investment, 3L Capital, Aspada, as investors.

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