Hyperlocal services app Dunzo raises ₹24 crores from Milestone, others

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Bengaluru-based AI-driven hyperlocal concierge startup Dunzo has raised ₹24.08 crores ($3.4 million) in series C funding round from Cognizant co-founder N Lakshmi Narayanan, Milestone Trusteeship Services, Garware Polyester vice-chairman Monika Garware Modi and Raintree Family. The shares have been issued at a premium of ₹52,000.

The company plans to use the freshly raised capital to invest in brand marketing along with setting up of infrastructure and for routine operations. According to an assessment by paper.vc, Lakshmi Narayanan bought 1,323 CCPS for ₹6.888 crores, Milestone Trustee picked up 1,322 CCPS for ₹6.883 crores, Monika Garware Modi bought 661 CCPS for ₹3.441 crores and  Raintree Family picked up 945 CCPS for ₹6.885 crores.

Founded by Ankur Aggarwal, Mukund Jha, Kabeer Biswas and Dalvir Suri, the four-year-old startup offers a chat-based platform to help users create to-do lists and collaborate with others for getting their work done. The app connects customers with vendors and gets the to-do list’s jobs done. The services range from shipping of packages, repairing, buying products to several other home services

The startup completed over 1 million transactions with an average of 30,000 transactions every day in Gurugram, Pune, Chennai and Hyderabad. Dunzo raised ₹₹6.881 crores from Alteria Capital in November 2018. Prior to that, the startup raised ₹86.1 crores in series B funding from Google in December 2017.


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