The organization plans on investing in logo advertising and marketing, and routine operations. Before this, the organization raised INR 7 Cr ($983K) from Alterra Capital. Cognizant cofounder N Lakshmi Narayanan additionally participated inside the spherical. Bengaluru-based artificial intelligence (AI)-driven hyperlocal concierge app Dunzo has raised $3.1 Mn (INR 22. Forty nine Cr) in a Series C investment round because the employer plans to invest in emblem advertising and marketing at the side of setting up of infrastructure and habitual operations.
According to its filings with the Registrar of Companies (RoC), the employer issued cumulative convertible choice stocks (CCPS) to Milestone Trusteeship Services, N Lakshmi Narayanan, Monika Garware Modi, and Raintree Family. The funding round was first mentioned by way of paper. Vc saw Cognizant cofounder N Lakshmi Narayanan picking up 1,323 CCPS for $984K (INR 7 Cr), Milestone Trustee picked up 1,322 CCPS for $983.3K (INR 6. Nine Cr), Garware Polyester vice-chairman Monika Garware Modi picked up 661 CCPS for $491.6K (INR three.4 Cr), and Maharashtra-primarily based Raintree Family picked up 945 CCPS for $983.7K (INR 7 Cr).
Founded in 2015 using Ankur Aggarwal, Dalvir Suri, Mukund Jha, and Kabeer Biswas, Dunzo gives a chat-primarily based interface which permits customers to create to-do lists and collaborate with others and get their paintings done. The AI-driven chat-primarily based hyperlocal services app enables users to create to-do lists and collaborate with partners (vendors) to achieve them. It leverages AI to offer carriers shipping packages, buying products, repairing stuff, and home services. Users can also get their non-public responsibilities achieved through the app, including whatever from paying bills, getting vehicle services, repairing things, amongst many extras.
“Dunzo has a high-quality group with an exceptional idea which has legs to run; that’s the motive I invested,” Narayanan instructed Inc42. As of October 2018, Dunzo claimed to have completed over 1 Mn transactions with a median of 30K transactions per day, especially from four towns — Gurugram, Hyderabad, Pune, and Chennai. Last yr in November, the organization raised INR 7 Cr ($ 983K) from task debt firm Alterra Capital. Before this, the company raised INR eighty.8 Cr ($12. 3 Mn) in a Series B investment round led Google in December 2017.