Google leads $12 mn round in task management app dunzo

Google leads $12 mn round in task management app dunzo

Dunzo, a Bengaluru-based daily tasks management app owned by Dunzo Digital Pvt Ltd, raised $12.3 million (Rs 80.8 crore) in a Series B funding round led by  Google Asia Pacific Pte Ltd.

Dunzo, a chat-based task management app, leverages both AI and human operators in providing solutions for consumers' everyday tasks. It allows users to create a to-do list through the app, collaborate on tasks and make them happen. It includes tasks such as picking up groceries or providing home services.

According to sources familiar with the development also confirmed that existing investors Aspada Investment Advisors and Blume Ventures also participated in the round.

While Google Asia Pacific Pte Ltd invested Rs 64.58 crore, the Daunzo received Rs 3.75 crore from Blume Ventures and Rs 12.5 crore from Aspada. The funding was closed last week.

The global technology giant finds the investment as part of Google's Next Billion Users (NBU) push. Google finds as a priority market and is focusing with WiFi hot-spots, and launching new features for the country.  

The startup has seen a three-fold increase in valuation from its Series A round. With its Series B investment, the startup has been valued at $30 million post-money, while its pre-money valuation is around $17 million.

Dunzo's turnover during fiscal 2017 rose to Rs 98.5 lakh from Rs 71,000 in the same period previous fiscal.

The startup, founded in 2015 by Ankur Aggarwal, Dalvir Suri, Mukund Jha and Biswas, raised $650,000 in pre-series A round funding led by  Aspada Investment Advisors and Blume Ventures.

Angel investors including Google India managing director Rajan Anandan and Just Dial's chief technology officer Sandipan Chattopadhyay also participated in the funding round.

 

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