Dunzo has received a $40 million fund from new and existing investors. The investment is a part of the company’s ongoing Series E financial round and it witnessed participation from companies like Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada and Alteria etc.
As per the company, the new fund will be utilized in rapidly growing markets like Mumbai, Chennai and Pune.
In October 2019, a clutch of investors had infused about $45 million in Dunzo. So far, the company has raised nearly $135 million in funding.
The company claims to have recorded a two-time GMV growth in 2020 over the previous year and said it is now a nearly $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,” the firm said.
In the last six months, Dunzo supported more than 300 neighbourhoods across markets, delivering essentials to users within 29 minutes on average.
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