The company plans on investing in emblem advertising and marketing and ordinary operations
Before this, the employer raised INR 7 Cr ($983K) from Algeria Capital
Cognizant cofounder N Lakshmi Narayanan additionally participated within the round
Bengaluru-based artificial intelligence (AI)-driven hyperlocal concierge app Dunzo has raised $three.1 Mn (INR 22.Forty nine Cr) in a Series C funding round, because the employer plans on investing in brand marketing together with setting up of infrastructure and for ordinary operations.
According to its filings with the Registrar of Companies (RoC), the business enterprise issued cumulative convertible desire shares (CCPS) to Milestone Trusteeship Services, N Lakshmi Narayanan, Monika Garware Modi, and Raintree Family.
The investment spherical which changed into first pronounced by way of paper.Vc, noticed 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 6.9 Cr), Garware Polyester vice-chairman Monika Garware Modi picked up 661 CCPS for $491.6K (INR 3.4 Cr), and Maharashtra-based Raintree Family picked up 945 CCPS for $983.7K (INR 7 Cr).
The stocks were issued at a top rate of $743 (INR fifty two.8K), the filing showed.
Founded in 2015 by way of Ankur Aggarwal, Dalvir Suri, Mukund Jha, and Kabeer Biswas, Dunzo offers a chat-primarily based interface which lets in users to create to-do lists and collaborate with others and get their paintings finished.
The AI-pushed chat-based hyperlocal services app enables users to create to-do lists and collaborate with partners (carriers) to get them finished. It leverages AI to provide vendors for the transport of packages, shopping for merchandise, repairing stuff, and domestic offerings. Users also can get their tasks done thru the app, which may also consist of something from paying payments, getting car services, repairing matters amongst many more.
“Dunzo has an excellent group with an awesome concept which has legs to run, that’s the motive I invested,” Narayanan advised Inc42.
As of October 2018, Dunzo claimed to have finished over 1 Mn transactions with a mean of 30K transactions according to day especially from 4 cities — Gurugram, Hyderabad, Pune and Chennai.
Last yr in November, the organization raised INR 7 Cr ($ 983K) from mission debt firm Alterra Capital. Before this, the organization raised INR 80. Eight Cr ($12. Three Mn) in a Series B funding round led Google in December 2017.
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