Venture dent fund, Alteria Capital has invested USD 11 million in Bengaluru-based startup Dunzo, a hyperlocal delivery startup. The debt will help the company scale in existing geographies while retaining value for its existing shareholders, including employees.
“Profitability has always been the barometer of success and we’re seeing it manifest across several of our micro-markets. As we deploy this playbook into other cities, we’re extremely conscious of what our consumers want,” said Kabeer Biswas, cofounder & CEO, Dunzo.
“Kabeer and the team at Dunzo have ensured that the benchmark for hyperlocal services has been raised significantly,” said Vinod Murali, managing partner, Alteria Capital. He further said, “While this segment is quite competitive, Dunzo is equipped to be a market leader in the medium term and we are very happy to double down on a high performing company in our portfolio.”