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With Leading the $12 Million Series B round in Task Management App dunzo, Google Further Bolsters its Push into India

This is Google’s first direct investment in an Indian startup and was made as part of Google’s Next Billion Users (NBU) push.

With Leading the $12 Million Series B round in Task Management App dunzo, Google Further Bolsters its Push into India 05/12/2017
With Leading the $12 Million Series B round in Task Management App dunzo, Google Further Bolsters its Push into India

Daily task management app dunzo has raised $12.3 million in Series B funding. According to reports, the round was led by global technology giant Google, who as virtue picked up a minority stake in the Bangalore-based startup.

Also participating in the round are existing investors Aspada Investment Advisors and Blume Ventures.

Founded in 2015 by Ankur Aggarwal, Dalvir Suri, Mukund Jha and Kabeer Biswas, Dunzo is a chat-based task management app which allows users to create to-do lists and runs various errands for them such as picking up groceries or something you forgot somewhere and more

The platform, which handles 3,500-4,000 tasks a day, leverages both artificial intelligence and human operators to provide solutions.

Dunzo is one of a very few hyper-local service startups that have survived as Grofers, Genie, and Local Banya all failed at this model.

However, Dunzo, which was initially launched on WhatsApp, has not only survived but has achieved success even in Bengaluru, employing 1350 riders across the capital.

Google leads $12 million round in task management app dunzo
Be it visits to the grocery store, special plans for occasions or fixing something at home, dunzo will get it done.

Since securing $1.18 million in its Series A funding round in November 2016, the startup has seen a three-fold increase in valuation and is now valued at $30 million post-money with the Series B round. Its pre-money valuation is around $17 million.

The investment is another in a series of moves by Google in its attempt to bolster its presence in India, the second most populous country (1.324 billion) in the world just behind China (1.379 billion).

They acqui-hired Bangalore-based AI venture Halli Labs in July this year. And last week, the search engine giants shortlisted four Indian startups for the fifth edition of its six-month Launchpad Accelerator programme.

This came less than two months after they entered India’s digital payments market by launching its own Unified Payment Interface (UPI)-based mobile payments app ‘Tez’.

Also, just last month, a media report revealed that an acquisition of online local business search engine Just Dial Ltd is in the pipeline.

The dunzo app is available as dunzo on the Google Play Store and dunzoit on the App Store.

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