Dunzo plans to raise $250-300 million to build a fast-growing commerce company
- ByStartupStory | April 2, 2022
Dunzo Digital Pvt Ltd, a hyperlocal delivery business funded by Reliance Retail Ventures and Google, is planning a $250-300 million financing to help with its expansion aspirations, according to co-founder Kabeer Biswas. Dunzo is expected to collaborate with Morgan Stanley on the fundraising, which may start as early in April.
According to Biswas, the company expects to dilute about 10-15% of its shares in this round. However, he did not disclose any valuation figure given the volatile state of the market. The company had received other offers that valued Dunzo at over $1.2 billion also at the point.
In January, Reliance Retail bought a 25.4 percent share in the company. Google is one of Dunzo’s other shareholders, while the business’s cofounders and management team own roughly 20% of the company. The company’s cash reserves are estimated to be over $200 million. Biswas said the company plans to execute another pre-IPO round – maybe a $500 million investment – before going public in 2024.
Dunzo’s current gross margin value (GMV) is roughly 1,500 crore ($197.3 million), with an annual run rate of 1,500 crore ($197 million). From January to December 2021, the company generated a gross merchandise value of Rs 1000 crore.
Dunzo’s current gross margin value (GMV) is roughly 1,500 crore ($197.3 million), with an annual run rate of 1,500 crore ($197 million). From January to December 2021, the company generated a gross merchandise value of Rs 1000 crore.
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