Hyperlocal delivery platform Dunzo raised $40 mn in Series E funding led by Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria, among others. The fundraise was based on the execution of company's 2021 strategy, and focus on its local commerce platform.
The team will work on deploying its playbook for sustainable growth across its fastest-growing cities such as Mumbai, Chennai, and Pune. Dunzo has shown a GMV growth of 2X over the past year, and has an annualized GMV of $100 mn. Over the past 6 months, Dunzo has supported over 300 neighbourhoods across eight cities, and has delivered essential goods to users within 29 mins.
The company stated it is looking to mobilize Indian cities and empowering the merchant ecosystem has made it the ‘go-to’ local commerce product in the country. As cities reopen, it continues to see strong growth across user segments.