Dunzo in final step to close a $15-20 million funding round.
It uses artificial Intelligence in offering hyper local services to clients.
The company is operative in six cities in India including Gurgaon, Hyderabad, and
Indian hyper local market is expected to be of INR 2,306 Cr by 2020.
Bengaluru based Google-backed hyperlocal startup, Dunzo in the final step to close a $15-20 million funding round. According to persons familiar with the fundraising, a new strategic investor is interested in floating money along with existing backer Google, which is expected to invest on a pro-data basis. Food tech unicorn Swiggy is taking a high interest in on-demand task management app Dunzo.
Dunzo came into existence in 2015, by Mukund Jha, Ankur Agrawal, Kabeer Biswas, and Dalvir Suri. It takes the assistance of Artificial Intelligence in offering hyperlocal services. The application through its chat-based interface permits users to build to-do lists and collaborate with others and get their work done wisely. It uses AI for providing vendors for buying products, home service, shipping of packages and repairing stuff. It also assists users in doing their personal task done from repairing things to car service and paying bills and much more.
The company in series C funding round also raised $3.1 Million from a group of investors and $422k from MakeMyTrip founder Deep Kalra.
Dunzo is recently providing its services in six cities in India including Gurgaon, Hyderabad, and Bengaluru. It claims to have crossed one million transactions in October 2018. Recently the company has taken an innovative step to provide logistics services to businesses and enhance revenue contribution in their high capital-burn business. Dunzo has now stepped in business to business service after attaining firm grip in business to customer service. By this service, Dunzo permits API integration into the other businesses’ platform, which lets the company request for a delivery agent, as and when needed.
According to Dunzo spokesperson, “Dunzo Business is one of the fastest developing parts of our business. Dunzo is assisting businesses of all sizes to come online without the need to nourish and manage their own logistics.”
Ken Research, Market Research Firm report revealed that the Indian hyper-local market will grow at a considerable CAGR rate thus exceeding INR 2,306 Cr by 2020.
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