Hyper-local delivery startup Dunzo has secured $11 million in a venture debt funding round from Alteria Capital. The company would be looking to scale in existing geographies while retaining value for its current shareholders and employees, through the new capital.
During the FY19, the Google-backed Dunzi had recorded a loss of Rs 169 crore for a meagre revenue of Rs 76.6 lakhs. The company had also recently rolled back its operations in parts of Bengaluru, Mumbai, and Gurugram to cut costs and optimize its delivery fleet. (Source)
