Dunzo, a concierge mobile app focused on local markets, is preparing to take on new competitors like Grofers, BigBasket, Swiggy Stores, and others within the local delivery marketplace.
The Bengaluru-based company is close to securing $11.5 million in a Series C funding round led by Google, Blume Ventures, Alteria Capital, Greyhound, Beeline in this ongoing Series C round, a Ministry of Corporate Affairs filing showed.
While Google is investing $5.1 million, Alteria is investing $1 million, Blume Ventures, Beeline and Greyhound are investing about $1 million each in this round.
According to the Ministry of Corporate Affairs filings, Dunzo Digital Pvt Ltd, the parent company of Dunzo has issued 14,235 Series C CCPS worth $11 million and 500 non convertible debentures worth $750,000.
While Alteria Capital picked up 500 debentures to issue venture debt of $750,000, it also participated in the $11.2 million funding round with other investors.
The company filings showed that the funds have been raised for the furtherance of the business and in accordance with the business plan in order to achieve the purposes such as setting up of infrastructure and routine operations and for the purpose of product development of the company.
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