Local delivery marketplace Dunzo raises $45 million in fresh round of investment
Investors included Lightbox Ventures, Google, 3L Capital, and STIC Investment & STIC Ventures
Dunzo, the Indian local delivery marketplace has raised $45Mn in a fresh round of investment from Lightbox Ventures, Google, 3L Capital, and STIC Investment & STIC Ventures. This capital will further Dunzo’s vision to be the largest commerce platform in the country.
This round of investment stems from Dunzo’s 40X growth in the last 18 months and a business model that focuses on unit profitability. Clocking in 2M+ deliveries month on month, Dunzo has implemented an unmatched level of efficiency with its cross-category delivery model, with an average delivery taking 28 mins across its 8 cities.
Speaking on the development, Kabeer Biswas, CEO & Co-Founder, Dunzo said, “Dunzo has always focused on building a reliable business model while ensuring consumer empathy in every action that we take as a platform. 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. We are on course to building the largest commerce platform in the country with the most efficient logistics solution for each city".
Embracing the opportunity to build an "OnDemand 2.0" business, Dunzo has employed a utilisation-first approach to drive success in the hyperlocal business. It has been able to find the right mix of categories and economics to drive profitability for the long term rather than just drive market share by tweaking the model at scale.
The next phase of success will come from Dunzo's core strength - digitising India’s offline commerce in the top 25 cities in the country. Dunzo will be deploying 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.
Commenting on the association, Dave Leyrer, Co-Founder and Managing Partner, 3L said, “Dunzo has been a crucial spoke in driving the hyperlocal wheel and has the potential to go the distance in becoming the largest commerce platform in India. It is our belief that the team at Dunzo has tapped into the backbone of the Indian economy - local offline merchants. Their approach to growth has been uniquely sustainable and we’re eager to see how they change local commerce dynamics in India."
“We’ve always believed innovation is at the forefront of any great business. Dunzo has driven growth sustainably through continuous innovation and a strong consumer-backed focus. We believe partnering with Dunzo will help us fuel India’s growth story and build a place in the hyperlocal ecosystem". added, STIC Investments and STIC Ventures.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)For more updates, be socially connected with us on
WhatsApp, Instagram, LinkedIn, Twitter, Facebook & Youtube