Dunzo, was actually founded in 2014, in the month of July. The company was founded by Kabeer Biswas and was co-founded by Ankur Agarwal, Dalvir Suri, and Mukund Jha. It is a Bengaluru based company which operates in the hyperlocal delivery space. The company actually started out as a WhatsApp group but now is a full-fledged application.
The first round of funding Dunzo received was $650,000 from various investors. Blume Ventures, Aspada Ventures, and some other Angel Investors. The next investment came directly from Google. It was a massive $12 million funding and Dunzo were cast into history as Google’s first direct investment in an Indian startup.
The Dunzo application is a bit different from other delivery applications. It has a chat-based interface which allows users to create lists and then get their work done through people around. This is not the only service, the application can help users get their other work done. Work such as repairing things, paying bills, getting your car serviced amongst many other things.
The company is raising a lot of many at this moment. That is because it wants to expand and the other reason is Swiggy. Swiggy recently entered the hyperlocal delivery market and it is turning out to be a rat race between Dunzo and Swiggy. The food-delivery company is already one of the strongest in the market, it is backed by Naspers and recently raised $1 billion in a mega funding round.
Dunzo, however, received its last investment from MakeMyTrip founder Deep Kalra of around $422,000 while $3.1 were invested by a group of investors. It is now looking to raise around $15 million to $20 million so that the company can increase the number of cities it can operate in. The company currently operates in Bengaluru, Pune, Gurgaon, Delhi, Chennai, and Hyderabad.
Dunzo is one of the fastest growing on-demand service offering company. It is providing service almost in all sectors. The company is offering people to take their business online without the expenses of logistics. This is huge and it is one of a kind business. A Dunzo spokesperson was talking about the same. He said that it is enabling many businesses to enter the online space without developing anything more than they have.
He said, “Dunzo Business is one of the fastest growing parts of our business. Dunzo is enabling businesses of all sizes to come online without having to develop and manage their own logistics.”
The hyperlocal business is going to see huge growth according to Ken Research; a market research firm. It is one of those markets which will grow rapidly and reach a number of INR 2,306 crore by the time we hit 2020.
It is really understandable as to why Swiggy also entered this market. Dunzo has no competition apart from Swiggy. And the only way to swallow it and rise above is to bow down and work harder with the help of the many they are raising.