Dunzo lost ₹169 crore last year – Swiggy Go may make this year even tougher
- Dunzo has registered a loss of ₹168.9 crores in FY19.
- Its revenue from operations stood at ₹76.59 lakh.
- Dunzo wants to hit 17 million monthly transactions by 2020, which could possibly mean more investment and more burning of cash.
AdvertisementHyperlocal delivery startup Dunzo has registered a loss of ₹168.9 crores in FY19 for a wafer thin revenue of ₹76.59 lakh. Its losses have grown eight times over, whereas its revenue even with a five-fold increase is still minuscule compared to its losses.
According to reports, Dunzo’s total revenue for the year stood at ₹3.5 crore, with ₹2.8 crore coming in from “other income”.
The Google-backed Dunzo recently raised $45 million in a series D round from Lightbox, 3L Capital and others. It was reportedly valued at $200 million then. Dunzo was Google’s first direct investment in India.
Dunzo is registering half a million monthly transactions but in an earlier interview with Business Insider, Kabeer Biswas, co-founder and CEO of the company had said that they are aiming for 17 million monthly transactions by the end of 2020.
But the four-year-old startup also has new and big competition. The much more experienced and heavily funded unicorn Swiggy entered its category with
Now, Swiggy entered the space with a ready fleet of delivery executives and an established name, which would make it difficult for Dunzo as it aims to expand to 20 cities.
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