Dunzo Raises $40 Million From Google & Others

Local commerce platform Dunzo has raised a fresh round of USD 40 million (about Rs 292.7 crore) in capital from a clutch of investors including Google and Lightbox, among others. The funding round saw participation from new a

BY Realty Plus
Published - Wednesday, 20 Jan, 2021

Dunzo Raises $40 Million From Google & Others

Local commerce platform Dunzo has raised a fresh round of USD 40 million (about Rs 292.7 crore) in capital from a clutch of investors including Google and Lightbox, among others. The funding round saw participation from new and existing investors, including Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria, among others. This capital stems from a year of robust growth amidst the pandemic. In the coming year, the local commerce platform will focus on deploying its playbook for sustainable growth across its fastest-growing cities such as Mumbai, Chennai and Pune. With a gross merchandise value (GMV) growth of 2X over the past year, Dunzo is now about USD 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.