The startup that is backed by Google and operates in 8 most traffic clogged
cities seeks to extend its reach across the country reaching $1 billion revenue
in the next two years. The app connects low cost couriers to thousands of
merchants luring them by their rapid delivery chain in the traffic clogged
Source: Google ImagesThe Bengaluru based firm has raised around $140 million up
to the date and aims to put in more investors for ?roughly around $150 million
dollars by 2021.
?The expansion only really starts next year at full pace, so we?ll raise the
capital this year, but it gets deployed only next year,” Kabeer Biswas, Dunzo?s
36-year-old chief executive officer, said in an interview.- Source The Mint
The company also plans to expand itself in two two cities and 20 more urban
areas by 2023 according to The Mint. The company has also started offering 15
minute delivery on sought after products.
The company was founded on 2014 where it primarily worked via WhatsApp before
changing to an application based where the users primarily pay around $6 for the
There is already a steep competition with other food delivery app such as Swiggy
which is raising around $800 million on the second wave of Covid-19.
The growing imposition of state-level restrictions ?is a negative development
for consumption in general” but web-based retail will likely get a ?boost,”
Jefferies analysts, including Vivek Maheshwari, wrote in a report Tuesday.Source