Google on Tuesday said it would take part in the latest funding round worth $40 million of hyperlocal delivery start-up Dunzo, which is based in Bangalore.
Google had set up a $10 billion fund to invest in start-ups in the country. Dunzo had been previously backed by Google.
Five-year-old Dunzo said Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria among others participated in its Series E financing round, which brings its to-date raise to $121 million.
Dunzo on Tuesday said it has raised a fresh round of $40 million (about Rs 292.7 crore) in capital.
“This capital stems from a year of robust growth amidst the pandemic.
“In the coming year, the local commerce platform will focus on deploying its playbook for sustainable growth across its fastest-growing cities such as Mumbai, Chennai and Pune,” it added.
With a gross merchandise value (GMV) growth of 2X over the past year, Dunzo is now about $100 million annualised GMV business, the statement said.
DeHaat raises $30m
Agritech firm DeHaat on Tuesday said it has raised $30 million (Rs 220 crore) from various investors to fund its expansion plan and strengthen technology platform.
The company raised $30 million in Series C funding, led by Prosus Ventures (formerly Naspers Ventures). RTP Global co-invested in the round with participation from existing investors, Sequoia India, FMO, Omnivore & AgFunder.
“The recent investment from marquee investors is a validation of our goal to become the world’s largest farmer aggregator and will help us scale up in size and scope,” Shashank Kumar, co-founder & CEO, said.
