As part of its ‘Next Billion Users’ Program, Google made its first direct investment in an Indian
startup, Dunzo. Google invested Rs 65 crore into the startup in lieu of a small stake. The Bengaluru-based company provides users with a service which can be used to fit a variety of needs by completing tasks ranging from errands to picking up food or groceries and even paperwork. The company completes an average of 4,000 tasks per day.
“Dunzo as a product ends up replacing the local search experience. Largely, the goal with the
product has been how do you make ‘local’ easy—either it is moving stuff or interacting with local
stores,” Chief Executive of Dunzo, Kabeer Biswas said. While the company only runs in Bengaluru and Pune currently, the investment from Google may enable them to expand to other cities in India.
The investment from Google gave the tech giant a significant minority share stake in the startup.
The funding from Google has brought the total raised by Dunzo in this round of funding to $12
million. Other investors in this round of funding for the startup include business management
player, Aspada Investment Advisors and Blume Ventures. Google, with CEO Sundar Pichai, plans on investing in startups in fields of healthcare, education and financial services as part of the company’s ‘Next Billion Users’ programme, through which they hope to create an environment where hyper local services are essential in everyday life.
(Picture courtesy: CraveOnline)
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