Homegrown hyperlocal delivery platform Dunzo on Tuesday said it has raised $40 million (approximately Rs 293 crore) in its Series E funding round with participation from new and existing investors, including Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria, among others.
“This capital stems from a year of robust growth amidst the pandemic,” the company said in a statement.
Dunzo said that in the coming year, the platform will focus on deploying its playbook for sustainable growth across its fastest-growing cities such as Mumbai, Chennai and Pune.
“Dunzo’s mission resonated stronger than ever in 2020. We have been amazed by everything merchants and users have started to depend on the platform for,” Dunzo Digital CEO and Co-founder Kabeer Biswas, said in a statement.
“We truly believe we are writing a playbook for how hyperlocal businesses can be built with sustainable unit economics and capital responsibility.”
Bengaluru-based Dunzo said that with a gross merchandise value (GMV) growth of 2X over the past year, the platform is now about $100 million annualised GMV business.
“As merchants go digital, Dunzo is helping small businesses in their digital transformation journey in support of business recovery,” said Caesar Sengupta, Vice President, Google.
Over the past six months, the platform has supported over 300 neighbourhoods across eight cities, and has delivered essential goods to users within 29 minutes.
Dunzo offers a full-stack of services across commerce (consumables, pet supplies, health, and wellness), courier (pick up and drop), and commute (bike taxi).