Dunzo to raise $28 million from Google, Lightstone and others1 min read . Updated: 01 Sep 2020, 10:45 PM IST
Google and Lightstone have already infused $15.65 million, the remaining amount would come from five existing investors, according to regulatory filings
Bengaluru: Hyperlocal delivery startup Dunzo has raised around $28 million, as part of its Series E round led by Google International LLC and Lightstone Fund S.A, according to documents sources from business information platform Tofler.
Google and Lightstone have already infused $15.65 million, the remaining amount would come from five existing investors, according to regulatory filings.
Dunzo has allotted 10,310 Series E cumulative compulsory convertible preference shares (CCPS) to Google LLC and Lightstone at ₹1,13,811.63 per share and has received ₹117.5 crore or $15.66 million. The other five investors- Lightbox Ventures III, 3 L Capital I, LP, Pivot Ventures, Moving Capital Lp and Bhoruka Finance Corp - will together infuse another $12.34 million.
Entrackr first reported the news on Tuesday.
“…At Dunzo our mission is to make our cities more accessible, and to do so, we have to empower local businesses with the necessary e-commerce capabilities to master the changing marketplace. We have constantly wanted to steer the narrative and conversation in the ecosystem to a better product, user experience, and what makes a dent in the business. It is our humble contribution towards creating a thriving ecosystem for India that impacts users, merchants, and delivery partners. In light of this, we will not be able to comment further on this round," said a Dunzo spokesperson.
In July, Dunzo suffered a data breach that leaked phone numbers and email addresses of its users, the company’s chief technology officer (CTO) Mukund Jha had said. Jha’s post said that the servers “of a third party" Dunzo works with were compromised, and it allowed the attackers to get “unauthorized access" and breach the company’s database.