Dunzo, a daily tasks management app based in Bengaluru has reportedly secured funds amounting to Rs 7 crore ($962,500) in a funding round. This funding round was led by venture debt firm Alteria Capital.
The company plans to utilize these funds for general corporate purposes and to expand its services, the filings stated.
The company is run by Dunzo Digital and according to the filings with the Registrar of Companies, it raised this sum early this month by issuing secured non-convertible debentures.
Prior to this, Dunzo raised $12. 3 million (Rs 80.8 crore) in a Series B funding round in December 2017 led by ed by global technology giant Google. The deal also marked Google’s first direct investment into an Indian company.
The company was founded by Biswas, Ankur Aggarwal, Dalvir Suri and Mukund Jha in 2015. Dunzo is basically a chat-based task management app that allows users to create to-do lists. The app fulfills tasks such as grocery and restaurant deliveries, instant local courier services and home services.
The company makes use of both artificial intelligence and human operators to offer its services. The app is available for the users on the Google Play Store and the App Store. Its Android app installs alone accounts for more than 10 lakh downloads.
Talking about the revenues, for the financial year 2016-17, Dunzo’s turnover rose to Rs 98.5 lakh from Rs 71,000 in the previous financial year. Expenses widened to Rs 11.79 crore, up from Rs 2.08 crore in the previous year, primarily driven by a rise in employee and other expenses.