“Profitability has always been the barometer of success and we’re seeing it manifest across several of our micro-markets,” Kabeer Biswas, Co-Founder at Dunzo, said.
The latest investment from Alteria comes after the venture debt fund provided around $1 million to Dunzo in November 2018. At the time, Dunzo had said it would use the funds for general corporate purposes and expanding its services.
Dunzo was founded by Biswas, Mukund Jha, Dalvir Suri and Ankur Aggarwal in 2015. It operates a task management application that allows users to create to-do lists. The startup fulfills tasks such as grocery and restaurant deliveries, instant local courier services and home services.
Other backers of Dunzo include Blume Ventures, Kalpavriksh Fund, and Patni Wealth Advisors, according to VCCEdge, the data research arm of Mosaic Digital.
This capital infusion comes after Dunzo raised $45 million in a fresh funding round in October last year from Lightbox, the US-based growth equity firm 3L Capital, and South Korea's STIC Investment & STIC Ventures.
Separately, Alteria managing partner Vinod Murali said Dunzo and its management team has been able to set a benchmark for hyperlocal services, adding that the firm was in a position to become a market leader in the competitive segment.
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