Alteria Capital, Venture dent fund, had invested $11 million in Bengaluru-based startup Dunzo, a hyperlocal delivery startup. This deal would help the company scale in its existing geographies. This is while retaining value for existing shareholders, including that of employees.
Kabeer Biswas, cofounder and CEO, Dunzo, said that profitability has always been the barometer of success and that they are seeing it manifest across several micro markets. He even said that Dunzo is extremely conscious of what its customer wants.
He added further that in its journey, and as markets turn profitable, Dunzo is able to fuel its growth with debt, while having a significantly higher return on investment for customers and stakeholders.
Dunzo had claimed earlier that it clocks over two million transactions in a month. Also, the funding comes at a time when Dunzo is facing increasing competition from Swiggy’s concierge service, that’s operational in Gurugram and Bengaluru.
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Dunzo operates bike-taxis and also competes with a whole host of other well-funded bike taxi companies, like Bounce, Rapido and Vogo.
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