According to filings with the Ministry of Corporate Affairs, Dunzo raised funding through a mix of equity and debt between January and February this year.

Dunzo raises 65 million from MakeMyTrips Deep Kalra and others
Atom Fund Raising Wednesday, February 27, 2019 - 10:21
Written by  S. Mahadevan

Dunzo, an app that you can use to get daily tasks done has now raised funds to the extent of $6.5 million (Rs 46 crore). Among the investors in this round is Deep Kalra, Chairman of MakeMyTrip, the popular travel app. According to a VCCircle report, the funds have been raised through the months of January and February this year and comprise both debt and equity. The company has also informed the Ministry of Corporate Affairs that the funds were realized in multiple tranches. And the company has been valued at around $55 million.

The two tranches are Rs 34 crore and Rs 12 crore. While Deep Kalra was among the investors in the first round in January two other key investors included Bandi Parthasaradhi Reddy, Chairman, Hetero and the Pune-based Raintree Family Office. In the second tranche, Alteria Capital was the key investor. Alteria is an existing investor in Dunzo.

Interestingly, Dunzo had already raised around $12.3 million in December 2017. The investors were Google, VC firm Blume Ventures and Alteria Capital. These are the early backers of the startup. For Google, this was the first time it was making a direct investment in an Indian startup.

Dunzo’s business model revolves around its app which has an interactive chat service and after understanding what the customer wants, the execution is done. These services could include any of the routine assistance that people may need, making deliveries, courier service and so on. Where feasible, artificial intelligence and machine learning are employed to fulfill the tasks, while there is the human support too available with Dunzo for the customers to take benefit of.

Dunzo has its operations spread over limited geography, with cities like Bengaluru, Pune, Gurugram, Hyderabad, Delhi and Chennai only covered so far, but claims its app has been downloaded 10 lakh times from the Android Play Store.