May 06, 2019

Hyperlocal Services Startup Dunzo to Raise $50 Mn in Fresh Funding

Dunzo, which is a hyperlocal services startup is all set to raise a fresh round of funding for around $50 million. It seems that Dunzo found it difficult to raise money from financial investors.

The company is based in Bengaluru and has been founded by Ankur Aggarwal, Dalvir Suri, Mukund Jha and Kabeer Biswas in the year 2015. Dunzo is said to be an AI chat-based hyerlocal app.

Some of the services that it offers include shipping of products, buying products, repairing stuff, and home services. The app can also be used for personal tasks which includes paying bills, car services, repairing appliances and many more.

The Indian hyperlocal market is said to reach over $314.4 miilion by the year 2020. Some of the delivery partners in this space include Swiggy Stores, Alibaba-backed Bigbasket, and Softbank's portfolio Grofers.