Local delivery marketplace Dunzo on October 4 said it has raised USD 45 million (over Rs 319 crore) in a fresh funding round from Lightbox, Google, 3L Capital, and STIC Investment & STIC Ventures.
The funding values the company at USD 180-200 million. Dunzo has raised a total of USD 81 million.
"Dunzo will deploy the funds to establish itself as the logistics layer for India, picking up and dropping almost anything and everything a consumer could want to buy and ship while integrating merchants and delivery partners on the platform," a statement said.
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 said, adding that the Bengaluru-headquartered firm is clocking in more than 2 million deliveries month on month.
"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," Dunzo CEO and co-founder Kabeer Biswas said.
He added that the company is on course to build the largest commerce platform in the country with the most efficient logistics solution for each city.
Founded in 2015 by Kabeer Biswas, Mukund Jha, Dalvir Suri and Ankur Aggarwal, Dunzo connects merchants, partners, and users to facilitate transactions across courier, commerce, and commute.
It is present in Bengaluru, Mumbai, Delhi-NCR, Chennai, Hyderabad, Jaipur, and Pune. It also has bike taxi services in Gurugram, Hyderabad, and Noida.Tim Cook takes dig at Facebook, says Apple has no cryptocurrency plan