MakeMyTrip chief govt Deep Kalra has invested INR 3 Cr ($ 422K) on behalf of Prudent Advisors in Bengaluru-primarily based errand-runner startup Dunzo in its ongoing Series C spherical.
Last week, Dunzo raised $3. 1 Mn (INR 22.49 Cr) in its Series C funding round. A group of favorite investors, such as Milestone Trusteeship Services, Cognizant co-founder N Lakshmi Narayanan, Monika Garware Modi, and the Raintree Family, has already participated in the investment round.
According to reviews, Kalra has purchased 567 cumulative convertible preference stocks (CCPS) for INR 52,927.2 each.
Also, Parthasarthi Reddy Bandi, on behalf of Krishna Sindhuri Trust, has invested INR 7 Cr ($985K) in approximately 1,323 stocks of identical magnificence and rate.
Related Article: Will $20 Mn Give Dunzo The Edge To Challenge New Rival Swiggy?
It is changed in 2015 by Ankur Aggarwal, Dalvir Suri, Mukund Jha, and Kabeer Biswas. It uses artificial intelligence to offer hyperlocal services. The utility, via its chat-based interface, lets customers create to-do lists, collaborate with others, and have their paintings performed.
This funding round is available after it was pronounced in November 2018 that Dunzo became in advanced talks about raising $25 Mn from Google and other buyers.
In November 2018, Dunzo raised INR 7 Cr ($985K)from mission debt firm Alteria Capital so that you can make more significant offerings. The startup raised $12 Mn (INR 85.2 Cr) in investment from seeking a corporation, Google, in opposition to a minority stake inside the startup in 2017.
Developing The Hyperlocal Space In India
According to a record from market studies company Ken Research, the Indian hyperlocal marketplace will grow at an excellent CAGR rate, hence exceeding INR 2,306 Cr in 2020.
Currently, food tech giant Swiggy has forayed into the on-demand hyperlocal space with the launch of ‘Swiggy Stores’, which is incorporated into the app.
In December 2018, Gurugram-based seventy-four BC Technologies, the discerning business enterprise of Baxi, shifted its commercial enterprise to the hyper-nearby transport model. Under this, the business enterprise joined hands with FMCG brands and rebranded itself as B-Fresh.
Investor Deep Kalra’s online tour enterprise MakeMyTrip has started presenting hyperlocal offerings via its newly launched function, ‘Experiences.’ Through this option, the enterprise offers leisure activities such as meals, walks, daycations, museum visits, and sporting activities.
