Dunzo plans to use the funds to enhance its quick commerce services and expand geographically. Here are the top-line bullets you need to know.
Dunzo, a hyperlocal delivery platform, has raised $240M in a Series F round that drew participation from Reliance Retail Ventures, Lightbox Ventures, and Lightrock, among others.
How’s the company performing?
- India-based Dunzo facilitates the delivery of food and groceries, medicine, pet supplies, and a variety of other everyday essentials for consumers in India.
- It aims to complete deliveries in 20 minutes or less.
- The company is experiencing 20% week-over-week growth.
Why does the market matter?
- The global logistics market is expected to reach a value of $13T by 2027, growing at a CAGR of 6.5%, according to Allied Market Research.
- The pandemic-induced increase in demand for fast-moving consumer goods (FMCG), medical supplies, and other consumer goods has accelerated the growth of online retail, which has driven global logistics market expansion.
- Heightened supply chain disruption amid the pandemic has led to increased investments in logistics to drive efficiencies and cut costs.