Local commerce platform Dunzo on Tuesday stated it has raised a contemporary spherical of USD 40 million (about Rs 292.7 crore) in capital from a clutch of buyers together with Google and Lightbox, amongst others.
The funding spherical noticed participation from new and current buyers, together with Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria, amongst others, a press release stated.
“This capital stems from a 12 months of sturdy progress amidst the pandemic. In the approaching 12 months, the native commerce platform will deal with deploying its playbook for sustainable progress throughout its fastest-growing cities corresponding to Mumbai, Chennai and Pune,” it added.
With a gross merchandise worth (GMV) progress of 2X over the previous 12 months, Dunzo is now about USD 100 million annualised GMV enterprise, the assertion stated.
The progress in 2020 comes on the again of sturdy, natural consumer demand whereas sustaining gross margin profitability for the general enterprise, it added.
“Dunzo’s mission resonated stronger than ever in 2020. We have been amazed by all the pieces Merchants and Users have began to rely upon the platform for. We really consider we’re writing a playbook for a way hyperlocal companies will be constructed with sustainable unit economics and capital duty,” Dunzo Digital CEO and co-founder Kabeer Biswas stated.
The firm is extra targeted than ever to allow native retailers to get nearer to their customers and construct some of the beloved shopper manufacturers in the nation, he added.
In the final six months, Dunzo supported over 300 neighborhoods throughout eight cities, delivering important items to customers.
Dunzo gives a full-stack of companies throughout commerce (consumables, pet provides, well being, and wellness), courier (decide up and drop), and commute (bike taxi). It is backed by Google, Lightbox, Blume Ventures, LGT Lightstone Aspada, STIC, 3L, Moving Capital, Evolvence, Hana Financial Investment, and others, with debt from Alteria Capital.
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