Local delivery app Dunzo backed by Google raises $3.1 Million in Series C funding
Dunzo has raised $3.1 Million (Rs. 22 Crore) in series C round of funding.
The company plans to invest funds in setting up the infrastructure for daily routine works and brand marketing.
Dunzo have completed 1 Million transactions till October 2018.
Bangalore based local delivery startup; Dunzo based on Artificial Intelligence has raised $3.1 Million (Rs. 22 Crore) in series C round of funding. Google-backed hyperfocal concierge app founded in 2015 by Mukund Jha, Davir Suri, Kabir Biswas, and Ankur Biswas assist users in creating do list and collaborate with others to make their work done by using chat based interface.
It clouts AI to provide vendors for buying products, shipping of packages, home services and repairing stuff. Apo also provides users with an opportunity to do their own tasks like paying bills, repairing things, getting car services and much more.
According to its filing with the Registrar of Companies the company has issued cumulative convertible preference shares (CCPS) to N Laxmi Narayanan, Milestone Trusteeship services, Monika Garware Modi and Raintree family. According to the funding report released by paper.VC Cognizant cofounder N Laxmi Narayanan picking up 1,323 CCPS for $984K (INR 7 Cr), Garware Polyester vice-chairman Monika Garware Modi picked up 661 CCPS for $491.6K (INR 3.4 Cr), Maharashtra-based Raintree Family picked up 945 CCPS for $983.7K (INR 7 Cr) and Milestone Trustee picked up 1,322 CCPS for $983.3K (INR 6.9 Cr). The filing revealed that the share was issued at a premium of $743. In October 2018 Dunzo claimed to have completed on an average 30k transactions per day summing to a huge amount of 1 Million transactions mainly in Pune, Hyderabad, Gurgaon, and Chennai.
The company rose previous funding in December 2017 of $12.3 Million (Rs. 12.3 Million) in a series B funding round led by Google and further funding was raised on November 2018 of Rs. 7 Crore from Alteria Capital, a venture debt firm. It has also attained a position in most innovative startups list 2018. The company plans to invest recently raised $3.1 Million fund in setting up the infrastructure for daily routine deeds and brand marketing. Stay connected with us for latest updates!
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