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Last Updated : Sep 02, 2020 03:17 PM IST | Source: Moneycontrol.com

Delivery startup Dunzo raises $15.7 million from Google, Lightstone

The hyperlocal logistics startup was reportedly valued at around $245 million.

Hyperlocal delivery startup Dunzo will raise $28 million in a fresh round of funding from Google and Lightstone and some other investors. While Google and Lightstone have infused $15.65 million, the rest of the amount will be raised from other existing investors.

The fresh funding is a part of the company’s ongoing Series E round. Dunzo had last raised $45 million in October 2019.

Dunzo has allotted 10,310 Series E CCPS to Google LLC and Lightstone at Rs 1,13,811.63 per share and has received Rs 117.5 crore or $15.66 million, filings revealed, as per Entracker's report.

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As per the report, the hyperlocal logistics startup has been valued at around $245 million. "Lightbox, 3 L Capital, Moving Capital, Pivot Ventures and Bhoruka Finance Corporation will collectively pump in $12.34 million in coming weeks," it said.

The firm was in July hit by a data breach. One of the company's databases that had information like users' contact details and email addresses was compromised.

In October 2019, Dunzo had raised $45 million (over Rs 319 crore) in a funding round from Lightbox, Google, 3L Capital, and STIC Investment & STIC Ventures. The funding valued the company at $180-200 million.

Founded in 2015 by Kabeer Biswas, Mukund Jha, Dalvir Suri and Ankur Aggarwal, Dunzo connects merchants, partners, and users to facilitate transactions across courier, commerce, and commute. It is present in Bengaluru, Mumbai, Delhi-NCR, Chennai, Hyderabad, Jaipur, and Pune. It also has bike taxi services in Gurugram, Hyderabad, and Noida.
First Published on Sep 2, 2020 03:17 pm
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