Dunzo Raises $40 Million in Funds From Google, More Investors as It Rides Pandemic-Induced Surge

Dunzo recorded a fresh rise in popularity as many users stayed indoors for much of 2020.

By Reuters | Updated: 20 January 2021 10:31 IST

Dunzo Raises $40 Million in Funds From Google, More Investors as It Rides Pandemic-Induced Surge

Besides Google, Lightbox, Evolvence, Alteria also participated in the fundraising round

Highlights

Dunzo, Zomato, and Swiggy recorded a fresh surge in popularity
Dunzo allows users to order groceries and other items from nearby stores
Dunzo also run pick-up and drop errands within the eight cities

Dunzo has raised $40 million (roughly Rs. 290 crores) from existing investor Google and others after seeing a surge in usage during the COVID-19 pandemic.

As many Indians stayed indoors for much of 2020 because of the health crisis, Dunzo and food-delivery apps Zomato and Swiggy recorded a fresh surge in popularity. Naspers-backed Swiggy also runs a hyperlocal courier service.

"This capital stems from a year of robust growth amidst the pandemic," Dunzo said in a statement. "As cities reopen, (Dunzo) continues to see strong growth across user segments."

Dunzo Foodcourt Allows You to Order Food From Multiple Restaurants at Once

Besides Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria also participated in the fundraising round, the Bengaluru-based company added.

Dunzo allows users to order groceries and other essential items from nearby stores as well as run pick-up and drop errands within the eight cities it operates in.

"As merchants go digital, Dunzo is helping small businesses in their digital transformation journey," said Caesar Sengupta, vice president at Google, which has set aside $10 billion (roughly Rs. 73,100 crores) for digital investments in India over five to seven years.

How Instamojo Built a Business by Bringing Small Businesses Online in India

© Thomson Reuters 2021

Does WhatsApp's new privacy policy spell the end for your privacy? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.