Dunzo Raises $3.1Mn In Series C Funding

On-demand concierge services startup Dunzo has raised $3.1 million (Rs 22.49 crore) in Series C round of funding led by Lakshmi Narayanan, Cognizant’s co-founder and former CEO, along with Blume Ventures, Raintree Family Office, and Monika Garware Modi, vice chairperson and joint MD at polyester film manufacturing company Garware Polyester.

Dunzo as of now has issued and revealed 4,251 Series C compulsorily convertible cumulative preference shares at a premium of Rs 52,872 each for the current round, according to the regulatory filings sourced by business signals platform

According to the filings, Narayan contributed with a maximum amount of Rs 7 crore. Followed by Rs 6.9 crore invested by Blume, Rs 5 crore by Raintree and Rs 3.49 crore by Modi.

In December 2017, Google picked up a minority stake in Dunzo for an undisclosed amount. That was Global search engine giant’s first direct investment in an Indian startup. Earlier in November 2016, Dunzo has secured $1.18 million in its Series A funding from Aspada Investment Advisors.

Image Source: Google

So far, Dunzo has raised a total of about $18.2 million in funding over five rounds including this one.

Started out as a small WhatsApp group. It transformed into a hyperlocal, app-based service, Dunzo is headquartered in Bangalore. It is currently providing delivery services in Bengaluru, Delhi, Gurgaon, Pune, Chennai and Hyderabad.

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