Dunzo raises venture debt from Alteria Capital, Technology News, ETtech

Dunzo raises venture debt from Alteria Capital Venture dent fund, Alteria Capital has invested $11 million in Bengaluru-based startup Dunzo, a hyperlocal delivery startup. The debt will help the the company scale in existing geographies while retaining value for its existing shareholders, including employees, as per a press statement.

“Profitability has always been the barometer of success and we’re seeing it manifest across several of our micro-markets. As we deploy this playbook into other cities, we’re extremely conscious of what our consumers want,” said Kabeer Biswas, cofounder & CEO, Dunzo.

He further added, “In this journey, as markets turn profitable, we are able to fuel our growth with debt while having a significantly higher return on investment for customers and stakeholders.”

Founded by Biswas, Mukund Jha, Dalvir Suri, and Ankur Aggarwal in 2015, Google-backed Dunzo has so far raised over $80 million. The company’s other investors include Lightbox Ventures, Google, 3L Capital, and STIC Investment & STIC Ventures.

The company had earlier claimed that it clocks over two million transactions in a month.

The funding comes at a time when Dunzo is facing increasing competition from Swiggy’s recently launched concierge service which is now operational in Gurugram and Bengaluru. ET had earlier reported that both Swiggy and Dunzo have both tied up with wholesalers that run dark stores to do hyperlocal deliveries.

Dunzo which also operates bike-taxis, compete with a whole host of other well-funded bike taxi companies, including Bounce, Rapido and Vogo, and ride-hailing majors Uber and Ola, both of which run bike taxis.

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