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.
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.