The enterprise plans to invest in logo advertising, marketing, and ordinary operations.
Before this, the enterprise raised INR 7 Cr ($983K) from Algeria Capital.
Cognizant co-founder N Lakshmi Narayanan additionally participated in the round. Bengaluru-based synthetic intelligence (AI)- driven hyperlocal concierge app Dunzo has raised $3. 1 Mn (INR 22.49 Cr) in a Series C investment round. The company plans to invest in emblem advertising and establish infrastructure and recurring operations.
According to its filings with the Registrar of Companies (RoC), the organization issued cumulative convertible preference stocks (CCPS) to Milestone Trusteeship Services, N Lakshmi Narayanan, Monika Garware Modi, and Raintree Family.
The funding was spherical, which was first suggested using paper. Vc noticed Cognizant co-founder 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. Nine Cr), Garware Polyester vice-chairman Monika Garware Modi picked up 661 CCPS for $491.6K (INR three.4 Cr). Maharashtra-based Raintree Family purchased 945 CCPS for $983.7K (INR 7 Cr).
The filing showed that the shares were issued at a top class of $743 (INR 52.8K). Founded in 2015 by Ankur Aggarwal, Dalvir Suri, Mukund Jha, and Kabeer Biswas, Dunzo offers a chat-based interface that lets users create to-do lists, collaborate with others, and execute their work.
The AI-driven chat-based hyperlocal offerings app permits users to create to-do lists and collaborate with partners (providers) to complete them. It leverages AI to provide providers for shipping programs, buying products, repairing stuff, and domestic services. Users can also complete their special obligations through the app, which might consist of paying bills, getting vehicle offerings, repairing things, and much more.
“Dunzo has a terrific team with an excellent concept which has legs to run; that’s the purpose I invested,” Narayanan told Inc42.
As of October 2018, Dunzo claimed to have completed over 1 Mn transactions with a median of 30K sales per day, particularly from four cities: Gurugram, Hyderabad, Pune, and Chennai.
Last year, in November, the organization raised INR 7 Cr ($ 983K) from task debt company Alterra Capital. Before this, the organization raised INR 80.8 Cr ($12. Three Mn) in a Series B funding spherical led by Google in December 2017.
