BENGALURU: Hyperlocal on-demand delivery startup Dunzo is in talks with new investors to raise approximately $50 million, according to two people familiar with the matter. “Dunzo has been finding it difficult to raise money from financial investors," said the second person mentioned above, requesting anonymity. Dunzo was Google’s first direct investment in India: The tech giant led a $12-million investment round in it. Mint had reported on 8 March that Dunzo was in the final stages of closing a round of financing. Earlier this year, food-delivery company Swiggy announced its foray into hyperlocal delivery with the launch of Swiggy Stores, which could be a possible concern for Dunzo’s business, according to industry analysts.

Source: Mint May 05, 2019 18:22 UTC