Press "Enter" to skip to content

After Google, Cognizant’s co-founder backs hyperlocal concierge startup Dunzo

Till November last year, Dunzo had raised .1 million in total from 4 rounds of funding, as per deals tracker Crunchbase.

Bengaluru-based on-demand concierge services startup Dunzo has got another premium investor backing it. The startup has raised $3.1 million (Rs 22.49 crore) from Cognizant’s co-founder and ex-CEO Lakshmi Narayanan, Blume Ventures, Raintree Family Office (family office of the stationary giant Camlin), and Monika Garware Modi, vice chair person and joint MD at polyester film manufacturing company Garware Polyester.

Dunzo issued 4,251 Series C compulsorily convertible cumulative preference shares at a premium of Rs 52,872 each for the current round, according to the regulatory filings sourced by data analytics platform

Narayan also contributed with maximum amount of Rs 7 crore followed by Rs 6.9 crore invested by Blume, Rs 5 crore by Raintree and Rs 3.49 crore by Modi, the filings showed.

Till November last year, Dunzo had raised $15.1 million in total from 4 rounds of funding, as per deals tracker Crunchbase. Its other investors include Google, Rajan Anandan (Google Southeast Asia head), Aspada Ventures, Alteria Capital etc.

The company was reportedly in talks with Google and other investors to raise $25 million.

Dunzo also happens to be the most well capitalized company in the on-demand task management space that have other relatively small players including Chennai-based Genie, Hyderabad-based Whizzy etc.

Swiggy, that is valued $3.3 billion, also ventured into on-demand services beyond food into categories including vegetables, kirana, paan, pet care, florists, baby care, meat, health supplement, and gourmet/organic items.

“Just type out the list of items and Swiggy will bring that to you. Swiggy Stores also acts as a directory of popular stores and lists bestsellers for you to get items seamlessly delivered by Swiggy,” Swiggy’s CEO Sriharsha Majety wrote on the company’s blog.

Available across 7 cities including Bangalore, Pune, Gurgaon, Delhi, Noida, Hyderabad and Chennai, Dunzo allow customers to send packages across a city, book a bike ride, order from local stores, grocery and vegetables, send documents, delivery medicines, order food, pick laundry, get sports and electronic items etc.

Narayanan had also invested in startups including furniture startup Furlenco, sales enablement startup Paperflite and Sachin Tendulkar-backed virtual sports and entertainment startup Smaaash.

To be updated…

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Source: Financial Express