Tata Digital in talks for stake in Dunzo app

CIOReviewIndia Team | Wednesday, 09 June 2021, 05:09 IST

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Tata Digital in talks for stake in Dunzo appTata Digital, a unit of Tata Sons, has begun talks to buy close to a controlling stake in hyperlocal delivery startup Dunzo, said people aware of the matter.

The potential deal may value the six-year-old company at $150-200 million ( ₹1,093-1,457 crore), these people said on condition of anonymity.

Dunzo Digital, backed by Google, Lightbox and Blume Ventures, among others, had raised $40 million (around ₹290 crore) as part of its Series E funding round.

A report in April said the company was planning to raise as much as $150 million to extend its reach and become a $1-billion revenue business in the next two years. Emailed queries to Tata Digital remained unanswered till press time.

Dunzo was launched in 2015 by Kabeer Biswas, Ankur Agarwal, Dalvir Suri and Mukund Jha.

In February 2020, Dunzo raised $11 million in venture debt from Alteria Capital. Alteria Capital had in November 2018 provided the company around $1 million.

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