The enterprise plans on investing in logo advertising and marketing and ordinary operations
Before this, the enterprise raised INR 7 Cr ($983K) from Algeria Capital
Cognizant cofounder N Lakshmi Narayanan additionally participated inside the round
Bengaluru-based synthetic intelligence (AI)-driven hyperlocal concierge app Dunzo has raised $three.1 Mn (INR 22.49 Cr) in a Series C investment round, because the company plans on investing in emblem advertising along with putting in place of infrastructure and for 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 spherical which turned into first suggested using 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.Nine Cr), Garware Polyester vice-chairman Monika Garware Modi picked up 661 CCPS for $491.6K (INR three.4 Cr), and Maharashtra-based Raintree Family picked up 945 CCPS for $983.7K (INR 7 Cr).
The shares were issued at a top class of $743 (INR 52.8K), the filing showed. Founded in 2015 using Ankur Aggarwal, Dalvir Suri, Mukund Jha, and Kabeer Biswas, Dunzo offers a chat-based interface which lets in users to create to-do lists and collaborate with others and get their work executed.
The AI-driven chat-based hyperlocal offerings app permits users to create to-do lists and collaborate with partners (providers) to get them done. It leverages AI to provide providers for shipping of programs, buying products, repairing stuff, and domestic services. Users can also get their special obligations finished thru the app, which might also consist of something from paying bills, getting vehicle offerings, repairing things amongst much greater.
“Dunzo has a terrific team with an excellent concept which has legs to run, that’s the purpose I invested,” Narayanan told Inc42.
As of October 2018, Dunzo claimed to have finished over 1 Mn transactions with a median of 30K sales per day in particular from four cities — Gurugram, Hyderabad, Pune, and Chennai.
Last year in November, the organization raised INR 7 Cr ($ 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 Google in December 2017.