The fresh capital will be used to expand in Mumbai, Chennai
and Pune, its fastest growing markets, the firm said.
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 Bengaluru-based firm that delivers a range of items to
its customers starting from groceries, perishables to pet supplies and packages
across eight cities gained more users amid the pandemic as home-bound consumers
moved online for servicing regular needs. 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 over 300
neighbourhoods across markets, delivering essentials to users within 29 minutes
on average.
“Through our India Digitisation Fund, we are committed to
partnering with India’s innovative startups to build a truly inclusive digital
economy that will benefit everyone,” said Caesar Sengupta, V-P, Google.