Google Invests Rs 65 Crore in Hyper Local App Dunzo, Its First Direct Investment in an Indian Startup

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Google Invests Rs 65 Crore in Hyper Local App Dunzo: In its first direct investment in an Indian startup Google has invested Rs 65 cr in Dunzo,a hyper local company of concierge & delivery firm.The investment is a part of Google’s Next Billion Users push & will see the company lead a   $10-$12 mn round. Dunzo offers services where customers can use its app to ask for errands  such as fetching medicines or buying a cake,for a fee.

According to a report , Google wants to follow the lead of other giants such as Flipkart, Amazon and Paytm-Alibaba and build a similar ecosystem in India where these giants are investing significantly across food delivery, grocery and local services.

Dunzo was Founded in 2015 by Ankur Aggarwal, Dalvir Suri, Mukund Jha and Kabeer Biswas.It allows its users to interact a wide variety of tasks and chores done such as laundry, grocery shopping, home maintenance, picking up food, and much more. Dunzo currently operational in Bengaluru only, it handles around 3,500-4,000 tasks a day. Earlier, Dunzo had raised 2 million USD from Blume Ventures and Aspada Investment Advisors.

Dunzo plans to expand to half a dozen cities across India by the end of 2018, and to ramp up to 1,00,000 transactions a day by the end of 2018 from about 1,00,000 transactions a month now.

Google invests in Rajan Anandan backed hyper local startup Dunzo

“We were users when it was just Kabeer, a scooter, and a Whatsapp group! Even then the user experience was so delightful, that we decided to take a bet on dunzo before they even had an app. It’s really gratifying to see that belief validated by an international major like Google,” said Sahil Kini of Aspada confirming the investment.

Over the last few months, Google has been spending aggressively in India, offering discounts on its payments app, Tez, as well as on its hyper-local services aggregator, Areo. Experts see possible synergies linking the investment in Dunzo with Areo and Tez.

Tom Hyland, co-founder and partner, Aspada Investment Advisors wrote in a LinkedIn post, “Aspada couldn’t be more proud of Kabeer and the Dunzo team for closing this funding round and bringing Google Inc. in to scale and propel the company to greater heights, both in service offerings and new geographies. This is a big win all around and a milestone for India’s entrepreneurial ecosystem”.

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