Hyperlocal delivery platform Dunzo has raised $40 million in a fresh round of funding from a clutch of investors. These investors include Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria.

Founded in 2015 Dunzo offers services across commerce (consumables, pet supplies, health, and wellness), courier (pick up and drop), and commute (bike taxi). The startup has presence in Bangalore, New Delhi, Gurugram, Bombay, Pune, Hyderabad, Chennai and Jaipur. Over the past six months, Dunzo supported over 300 neighborhoods across these eight cities and has delivered essential goods to users within 29 minutes.

Kabeer Biswas, CEO & Founder, Dunzo, said in a press statement, “Dunzo's mission resonated stronger than ever in 2020. We have been amazed by everything merchants and users have started to depend on the platform for. We truly believe we are writing a playbook for how hyperlocal businesses can be built with sustainable unit economics and capital responsibility. As a team, we are more focused than ever to enable local merchants to get closer to their users and build one of the most loved consumer brands in the country”.

A company statement mentioned that Dunzo has shown a GMV growth of 2X over the past year, and has an annualised GMV of $100 million.

Speaking about the investment, a spokesperson from Evolvence said, “Dunzo has been a pioneer in the hyperlocal delivery and ecommerce space. With the market potential and size of the urban convenience seekers increasing across Tier I and Tier II cities, Dunzo’s strong value proposition makes it a bold venture ripe for success. Its playbook on profitability has further instilled confidence in its ability to grow sustainably and we look forward to being a part of its story”.