Dunzo, a Bengaluru-based hyperlocal delivery startup linking customers to the nearby delivery valet, has secured US$ 240 million in a Venture funding round led by Reliance Retail on 6 January 2022.
Investors: The latest investment round featured Reliance Retail as the lead investor with participation from Lightrock, Lightbox, Alteria Capital and 3L Capital. The startup has managed to raise, in total, over US$ 368 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards meeting its vision of becoming the biggest rapidly-established commerce enterprise in India while broadening its B2B business to enable the supply chain for local dealers in the cities.
About Dunzo
Brought to existence in 2015 by Dalvir Suri and Ankur Aggarwal, the e-commerce and delivery startup offers instant delivery of daily essentials such as pet supplies, groceries, food, medicines, among other products, through its network of micro warehouses. The firm started its instant delivery paradigm, ‘Dunzo Daily’ in Bengaluru, in 2021, which has witnessed a growth of more than 20% week-on-week. Besides the funding round, Dunzo and Reliance Retail plan to collaborate by providing a hyperlocal supply chain to the retail stores run by Reliance Retail. Dunzo also plans to execute last-mile deliveries for JioMart’s merchant network. At present, the firm operates in 7 metro cities of India and the fresh funds will allow it to expand to 15 cities.
What the Founder has to say: “Since our establishment, we have paid attention to offer an unequalled user experience, and the latest funding round is a strong testimony of our successful business model. We are elated that our team has worked relentlessly in developing the platform in the last three years. We are also thankful to the firms which backed us in achieving our goals. Recent support from Reliance Retail will provide us with a long-term supporter who will enable us to rapidly grow and reinvent the way Indians purchase weekly and daily essentials.”- Kabeer Biswas, Co-Founder and CEO of Dunzo.
What the Investor has to say: “Our partnership with Dunzo will provide better service to our consumers and unique customer experience via fast delivery of products from our stores. Our dealers will gain entry to Dunzo’s hyperlocal delivery network to improve their growth as they shift their business online through Jio Mart.”- Isha Ambani, Director of Reliance Retail.
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