• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, June 19, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Delivery platform Dunzo in talks to raise $100 million

by Prity Khanal
January 6, 2023
in News, Tech
Reading Time: 2 mins read
0
Delivery platform Dunzo in talks to raise $100 million
TwitterWhatsappLinkedin

According to reports, Dunzo, a hyperlocal shipping company, is in negotiations to fund up to $100 Million (INR 825 Cr) through common shares.

You might also like

Sam Altman Claims Meta Offered OpenAI Staff Up To $100 Million Bonuses Amid AI Talent War

Pope Leo Elevates AI’s Threat to Humanity as Signature Issue

Big Tech Seeks Decade-Long Federal Moratorium on State AI Regulation

 

According to ET, additional funding would be added to enhance the reach of Dunzo Daily, a fast e-commerce service.

The quick commerce firm had raised Rs 50 crore in debt funding from Blacksoil a month ago.

According to the source, the conversations are far along, and the session may end with a valuation of $70-$100 Mn.

 

Initially, the business funded by Reliance Industries attempted to raise at least $150 million by selling a share. A source was reported as saying, “It will settle closer to $100 million but definitely not anywhere closer to $150 million.”

 

Several late-stage startups, like Udaan, have raised money via convertible notes since last year because of the persistent budget shortfall. In contrast to a stock round, convertible notes allow the business to postpone assigning a worth to itself.

 

Reliance Retail, the biggest stakeholder in Dunzo, is anticipated to issue a significantly smaller cheque for this round than it did in the last one. Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund that has funded Reliance’s Jio Platforms, is also set to participate in the funding round. Moreover, Dunzo is seeking to secure one or two more outside investors for this round.

 

Dunzo, which was started in 2015 by Dalvir Suri, Mukund Jha, Kabeer Biswas, and Ankur Aggarwal, connects customers with retailers and vendors locally and organizes the distribution of goods including groceries, medications, meals, and other necessities.

 

Last year, Reliance Retail Ventures Limited led a new round of funding for the Bengaluru-based company that reached $240 million. Dunzo’s capitalization jumped to $775 million after the retail giant of Mukesh Ambani’s Reliance Group bought a 25.8% interest on a fully diluted basis for $200 million.

 

To reduce expenses, Dunzo reportedly closed a few gloomy storefronts in multiple cities in November of last year.

 

“We shut down a few stores in peripheral areas with very low demand to drive operational efficiencies and optimize costs,” a Dunzo Spokesperson said

 

As its spending increased, Dunzo’s overall deficit increased by 2X to INR 464 Cr in the fiscal year 2021–2022 (FY22) from INR 229 Cr in the previous fiscal year. Operating cash flow for the company rose 2.1X to INR 54.3 Cr in FY22 from INR 25.1 Cr in FY21.

 

According to Redseer, the fast commerce market in India was valued at $30 million in 2021 and is predicted to rise 15 times to $5 billion in 2025. Dunzo is in fierce competition with firms like Zepto, Swiggy, Instamart, and Blinkit in the congested rapid commerce market, where nearly every player is having difficulty generating revenue.

 

The stress on entrepreneurs to become productive has heightened even more as a consequence of the funding winter. According to Inc42’s “Annual Indian Startup Funding Report 2022,” Indian startups received $25 billion in funding in 2022, a drop of 40% from $42 billion in 2021.

 

Tags: #delivery_platform#Fund_raise#Reliance_IndustriesDunzoUdaan
Tweet54SendShare15
Previous Post

Andhra Pradesh govt inviting Elon Musk, Tim Cook, Jeff Bezos for Investors Summit in Visakhapatnam

Next Post

Bed Bath & Beyond stock dropped to its lowest levels in 30 years and may go out of business

Prity Khanal

Prity is a content writer whose passion lies in writing to inspire others. She specialises in the field of law. With a curious mind and love for research and proficiency in creating informative narratives, she has specialised in tech, crypto, and is up-to-date with current market changes and flexible in various other fields.

Recommended For You

Sam Altman Claims Meta Offered OpenAI Staff Up To $100 Million Bonuses Amid AI Talent War

by Sneha Singh
June 19, 2025
0
Sam Altman Claims Meta Offered OpenAI Staff Up To $100 Million Bonuses Amid AI Talent War

The battle for artificial intelligence supremacy has reached new heights, with Meta reportedly offering jaw-dropping signing bonuses of up to $100 million to lure top talent away from...

Read more

Pope Leo Elevates AI’s Threat to Humanity as Signature Issue

by Sneha Singh
June 19, 2025
0
Pope Leo Elevates AI's Threat to Humanity as Signature Issue

The Vatican has a new voice in the global conversation around artificial intelligence, and he is establishing his position right from the first day.  Pope Leo XIV has...

Read more

Big Tech Seeks Decade-Long Federal Moratorium on State AI Regulation

by Sneha Singh
June 19, 2025
0
Big Tech Seeks Decade-Long Federal Moratorium on State AI Regulation

Major technology companies are making a bold move that could reshape how artificial intelligence is regulated across America. Amazon, Google, Meta, and Microsoft are lobbying Congress to block...

Read more
Next Post
Bed Bath & Beyond stock dropped to its lowest levels in 30 years and may go out of business

Bed Bath & Beyond stock dropped to its lowest levels in 30 years and may go out of business

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?