India Inc India Inc: Thursday, 07 December 2017 05:37

Google invests in Bengaluru start-up Dunzo

Global search engine giant Google has made its first direct investment in an Indian start-up, picking up a minority stake in hyper-local concierge and delivery player Dunzo.

The investment is part of Google's Next Billion Users (NBU) push and will see the company lead a $10-12 million round, where existing backers Blume Ventures and Aspada have also participated.

The start-up, which is present only in Bengaluru right now, wants to expand to top 5-6 cities by end of 2018 and scale up from 100,000 transactions a month right now to 100,000 a day.

Dunzo users in Bengaluru employ its mobile app for an assortment of errands such as picking up food from a restaurant or grocery from stores which doesn't do deliveries, to picking up your mobile charger or laptop that you forgot at a friend’s place.

It has over 1350 riders active for completing tasks and claims to have logistically broken even in Bengaluru, saying that delivery charges cover the logistics costs per delivery.

It has also started a serious monetisation push over the last couple of quarters, tying up with merchants selling electronics, medicines, and groceries and charging a commission.

India Investment Journal’ has in-depth coverage on related topics.

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