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Dunzo mops up $40 Mn in Series E round

Bengaluru: Hyperlocal logistics company Dunzo has raised $12 million from new and existing investors including Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria Capital. With this, the Bengaluru-based firm has mopped up $40 million in its Series E round.

According to Dunzo, the company continues to see strong growth across user segments, especially post the lockdown. Over the last six months, the Kabeer Biswas-led firm claims to have supported over 300 neighborhoods across eight cities, delivering essential goods to users within 29 minutes on average.

Over the past six-eight months, the hyperlocal logistics segment has turned competitive as e-commerce heavyweights Amazon and Flipkart entered the quick delivery service which includes delivery of grocery, dairy products, vegetables as well as mobiles, electronics, and home accessories. Swiggy and Zomato also launched Swiggy Stores and Zomato Market, but both had shutdown the services recently.

Source
VCCiRCLE

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