Dunzo starts Series E funding round, Google and LGT Lightstone take lead
Photo Credit: VCCircle

Dunzo Digital Pvt Ltd, which operates a diversified hyperlocal delivery platform, is in the process of raising around $28 million (Rs 204 crore) as part of a new funding round labelled Series E, according to a report.

Of this sum, $15.65 million has come from Google LLC and LGT Lightstone, which are leading the round, Entrackr reported, citing regulatory filings.

The rest is yet to come from five investors: Lightbox, 3L Capital, Moving Capital, Pivot Ventures and Bhoruka Finance Corporation.  

The Bengaluru-based delivery platform did not give out any further financial details to VCCircle.

Dunzo was founded by Kabeer Biswas, Mukund Jha, Dalvir Suri and Ankur Aggarwal in 2015. It operates a task management application that allows users to create to-do lists. 

The startup fulfils tasks such as grocery and restaurant deliveries, instant local courier services and home services.

This latest development comes after Dunzo in February raised $11 million (about Rs 78.8 crore) in venture debt from Alteria Capital. That came after Alteria provided Rs 7 crore (around $1 million) in November 2018.

In October last year, Dunzo raised $45 million (Rs 318.58 crore) in a funding round from Google, Lightbox, US-based growth equity firm 3L Capital, and South Korea's STIC Investment & STIC Ventures.

Other backers of Dunzo include Blume Ventures, Kalpavriksh Fund, and Patni Wealth Advisors, according to VCCEdge, the data research arm of Mosaic Digital.

The platform combines the use of both artificial intelligence and human operators to offer its services. It has a presence in regions such as Mumbai, Bengaluru, NCR, Hyderabad, and Pune. 

In May last year, the company raised funding from Kalpavriksh, the private equity arm of financial services firm Centrum.

Before that, in February, Dunzo raised $6.5 million (around Rs 46 crore) from a clutch of new and previous investors including Deep Kalra, the chairman and group chief executive officer of online travel services provider MakeMyTrip.

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