Google-backed India launch application Dunzo seeks $150 million financings.

  • Dunzo is a transportation service provider in Bengaluru, Delhi, Gurugram, Pune, Chennai, Jaipur, Mumbai, and Hyderabad, India.
  •  In Gurugram, the company also operates as a Bike Taxi service. Bengaluru, India, is where it is based. 
  • Google-funded it in 2017. 
  • Kabeer Biswas, along with co-founders Ankur Agarwal, Dalvir Suri, and Mukund Jha, founded it in 2014.

Dunzo Digital Private Ltd is a Google-backed transportation startup. It operates in eight Indian cities and expects to double the amount of money it has raised to increase its reach across the country and transform into a $1 billion revenue business next two years.

The application, which connects low-effort messengers to many individual vendors, has defrauded Indians by allowing them to transport items ranging from food supplies to packages during rush hour gridlock in urban areas. The Bengaluru-based firm has raised approximately $140 million to date, raising an additional $150 million in 2021.

Dunzo was established in 2014 as a WhatsApp official before evolving into an application where users pay $6 per request regularly.

It’s leveraging India’s increasing Internet use and availability, where tech and buyer new businesses are booming as the country’s population approaches one billion. According to Jefferies, the internet market has been the fastest-growing outlet for easy consumer great products in recent years, accounting for around 5% of all such deals.

Delivery Competition

The growing inconvenience of state-level restrictions “is a negative benefit for all,” but electronic retail will likely get a “boost,” according to Jefferies investigators, including Vivek Maheshwari.

According to Biswas, Dunzo doubled its annual deals in 2020, and he expects a similar growth rate this year. In Bengaluru, Dunzo’s most active operation is currently equaling the initial investment, he said.

Even though the business is breaking even at $2.5 million a month, Biswas believes Dunzo will be profitable in 24 to 30 months. In 2023, it may also hope to expand in different business sectors in Asia, he said.

“You make a 20-cent order – scale is the best way to make this business work,” he explained. In any case, “it’s critical to be incredibly concentrated in your geological creation, or you might suddenly start losing money each.”


For Latest IT Industry News, Follow us on Google News and Twitter