Dunzo, a Bangalore-based concierge app, is reportedly in advanced talks to raise a new funding round worth $25 million from its existing investor Google, and others. The development comes just a month after the company raised around $962.5K in venture debt funding in order to expand its services.
Reports indicate that the funding round will be a part of an extended capital-raising initiative. Further, it also mentions that the new funding round will boost the company’s valuation to over $100 million. A report from ET, citing unknown sources, says that Google could invest around $10 million in the startup.
Google had first invested in Dunzo last year when the company raised $12 million in a funding round. The round was led by Google, making it the first direct investment from the US-based search engine giant in India. The company is now again expected lead or co-lead the upcoming funding round.
Currently, it’s not known if new investors will also participate in this new funding round from Dunzo. Apart from Google, the existing investors of the startup — Aspada Investment Advisors and Blume Ventures are also expected to participate in the round on a pro-rata basis.
Dunzo was founded in 2015 by Ankur Aggarwal, Dalvir Suri, Mukund Jha, and Kabeer Biswas. It offers a chat-based interface which allows users to create to-do lists and collaborate with others and get their work done. The startup uses artificial intelligence and human operators to provide solutions to consumers’ everyday tasks.
He has been a technology writer since more than five years. At The Tech Portal, he covers gadgets, startups and the good and bad of tech.