Hyperlocal delivery platform Dunzo's FY21 revenue up 67%, losses narrow by 33 percentage
Bangalore based delivery startup, Dunzo’s revenue jumped 67.2 percentage in the previous fiscal to Rs 45.9 crore, whereas the losses narrowed by 33 percentage to Rs 225.2 crore.
The startup’s gross merchandise value stood at Rs 590 crore in FY21 compared to 360 crore in FY20. Dunzo attributed the rise in its gross sales value in FY21 to and the behavioural shift and organic demand in consumer purchasing habits during the Covid-19 pandemic.
The growth of the startup has helped to drive down marketing and advertising expenses by 86 percentage YoY.
Dunzo was founded by MukundJha, DalvirSuri, Kabeer Biswas (Chief Executive) and Ankur Agarwal in 2015. It connects vendors with users such as pharmacies, restaurants and grocery stores to facilitate the delivery of products. Moreover, it allows its customers to hire a partner to fulfil pick-and delivery drop orders and to facilitate deliveries amongst themselves.
“We didn’t want to go ahead and try to understand operations and go ahead and create issues on the ground because of us entering new cities. We didn’t know what the regulation would look like, we didn’t know what the virus would look like,” said Kabeer Biswas.
Dunzo has increased its order frequency with users transacting more than two times in a week. Its units economics has reduced its expenses per rupee of operating revenue earned to about Rs 6 in FY21 from Rs13 in FY 20.
The startup will continue with its expansion plans in the later half of this year. The company aims to enter 10 new markets by 2022 and 20 markets by 2023.
Dunzo has raised close to $130 million to date from investors like Alteria Capital, Evolvence India Fund, Google, Lightrock, Lightbox and a lot more. It launched its Dunzo Daily offering to get deeper into the on-demand grocery delivery market.
“What it does is, it goes ahead what a convenience store in 2021 would look like. I think what we are very excited about is the first 5 million odd customers in Bengaluru to try it and about 40 million customers across the country to try it over the next two years,” said Biswas.
The startup’s gross merchandise value stood at Rs 590 crore in FY21 compared to 360 crore in FY20. Dunzo attributed the rise in its gross sales value in FY21 to and the behavioural shift and organic demand in consumer purchasing habits during the Covid-19 pandemic.
The growth of the startup has helped to drive down marketing and advertising expenses by 86 percentage YoY.
Dunzo was founded by MukundJha, DalvirSuri, Kabeer Biswas (Chief Executive) and Ankur Agarwal in 2015. It connects vendors with users such as pharmacies, restaurants and grocery stores to facilitate the delivery of products. Moreover, it allows its customers to hire a partner to fulfil pick-and delivery drop orders and to facilitate deliveries amongst themselves.
“We didn’t want to go ahead and try to understand operations and go ahead and create issues on the ground because of us entering new cities. We didn’t know what the regulation would look like, we didn’t know what the virus would look like,” said Kabeer Biswas.
Dunzo has increased its order frequency with users transacting more than two times in a week. Its units economics has reduced its expenses per rupee of operating revenue earned to about Rs 6 in FY21 from Rs13 in FY 20.
The startup will continue with its expansion plans in the later half of this year. The company aims to enter 10 new markets by 2022 and 20 markets by 2023.
Dunzo has raised close to $130 million to date from investors like Alteria Capital, Evolvence India Fund, Google, Lightrock, Lightbox and a lot more. It launched its Dunzo Daily offering to get deeper into the on-demand grocery delivery market.
“What it does is, it goes ahead what a convenience store in 2021 would look like. I think what we are very excited about is the first 5 million odd customers in Bengaluru to try it and about 40 million customers across the country to try it over the next two years,” said Biswas.
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