With the advancement of technology, numerous new Indian start-ups have come into the picture that is posing a threat to established food and grocery delivery businesses and numerous e-commerce giants.
With regard to this, Bangalore-based local delivery marketplace Dunzo which was founded by Mukund Jha, Kabeer Biswas, Ankur Agarwal and Dalvir Suri in 2015, on October 4 raised $45 million from ventures like STIC Investment, Google, 3L Capital, and Lightbox Ventures in a new financing round. The funding places the company at USD 180-200 million. Till yet, Dunzo has successfully raised a total of USD 81 million for its operations.
Dunzo is a four-year-old start-up that operates an online hyperlocal delivery service. Through the medium of the App, numerous categories of services including perishables, pet supplies, grocery, medicines to dinner from user neighbourhood stores and restaurants, users get access to a wide range of items.
But that’s not all the things the superb app does. The users can have Dunzo pick up and deliver anything within the city. Forgot your essentials at the office? Dunzo will bring it back to wherever you are residing. Part of the service’s attraction is that its delivery is fast as most of its deliveries take under 25 minutes and as long as the store is not very far away, it’s not going to cost the user too much.
Pune, Powai, Bangalore, Noida, Delhi, Gurgaon, Hyderabad, and Chennai are the eight Indian cities where Dunzo is presently undertaking its operations. The start-up has stated that it will use the fresh capital to enlarge its technology infrastructure and advance partnerships with small and medium businesses to empower them so that they can contend with the chief hulks in the market.
Kabeer Biswas, CEO & Co-Founder of Dunzo, after investment mentioned that with time Dunzo has always aimed at developing reliable business models along with ensuring consumer empathy in each action that they take. The company has developed a model that understands the requirements of Indian society and empowers offline commerce to deliver to the consumers instantly. The company strongly believes that the local merchants should be given a fighting chance while building sustainable earning opportunities for delivery partners.
One of the investors, Dave Leyrer, Co-Founder and Managing Partner, 3L mentioned that in the Indian market Dunzo has played a crucial role in driving the hyperlocal wheel and has the budding chance to go the distance in becoming the largest commerce platform in India. He strongly believes that the team at Dunzo has tapped into the backbone of the Indian economy – local offline merchants. Their tactic to growth has been exceptionally sustainable and the company is enthusiastic to see how they modify the local commerce dynamics in India with time to come.
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