wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

Dunzo raises $40 million from Google, Lightbox and others

Dunzo delivery person
Credit: Aroon Deep

Hyperlocal e-commerce company Dunzo has raised $40 million from new and existing investors including Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria among others. It will use the funds to aid growth in cities like Mumbai, Chennai, and Pune.

The company said it saw a 2X growth in its gross merchandise value (GMV) in 2020, making it a ~$100 million annualised GMV business. “The growth in 2020 comes on the back of strong, organic user demand while maintaining Gross Margin Profitability for the overall business,” the company said in a statement.

Dunzo allows users to purchase a wide range of items including groceries, medicines, to even food from nearby stores. The company claimed that in the last six months, it delivered goods to over 300 neighbour-hoods across 8 cities and delivered essential goods to users within 29 minutes on average.

In July 2020, Google announced its ‘Google for India Digitisation Fund’, through which it would invest ₹75,000 crore (US$10 billion)over five to seven years. Days after announcing the fund, it invested ₹33,737 crore (US$4.5 billion) in Reliance Industries’ Jio Platforms.

Recently, it invested in two Indian startups — content platform Glance and news platform DailyHunt. While Glance raised $145 million, DailyHunt raised over $100 million. Google led both funding rounds. The tech giant is also looking to invest more than $100 million in Bangalore-based short video app ShareChat, TechCrunch had earlier reported.

Advertisement. Scroll to continue reading.

Also read

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Releasing the policy is akin to putting the proverbial 'cart before the horse'.

News

The industry's growth is being weighed down by taxation and legal uncertainty.

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

News

This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ