India Digest: Lightbox leads funding in Dunzo; Paytm First Games raises $20m

Photo: Reuters

Hyperlocal delivery startup Dunzo has closed a $45-million funding round led by new investor Lightbox Ventures while Paytm First Games has raised $20 million from parent firms, AGTech Holdings, and One97 Communications Ltd.

Dunzo closes $45m funding round

Hyperlocal delivery startup Dunzo has closed a $45-million funding round led by new investor Lightbox Ventures, The Economic Times reported.

The financing round also saw participation from two other new investors including South Korea’s STIC Ventures and US-based 3L Capital.

Google, which first invested in Dunzo in 2018, too joined the round, spiking the company’s valuation to $180-200 million. The latest round may see a top-up of another $10 million, taking the total size to about $55 million, the report added. It last raised funding from Kalpavriksh, the private equity arm of financial services firm Centrum, in May this year.

Launched on WhatsApp in 2015 by Kabeer Biswas, Ankur Aggarwal, Mukund Jha, and Dalvir Suri, Dunzo is a chat-based task management app connecting consumers with its delivery partners. The partners perform tasks such as local grocery shopping, food delivery, arranging medical supplies, etc. and deliver them to consumers’ residence for a fee.

Paytm First Games raises $20m from parent firms

Paytm First Games Thursday said it has raised $20 million from parent firms, AGTech Holdings, and One97 Communications Ltd, for further expansion.

The fund will support the company’s ambition to scale its operations, invest in technology and further expand its user base through various marketing activities, per a company statement.

“In the last six months, we have launched several games across different genres and the response has been encouraging. We now have more than 35 million registered users playing their favourite games, including the paid ones like Rummy and Fantasy Cricket. This fund-raise will support our ambition to become India’s largest gaming platform, which in turn makes gaming a rewarding experience for our users,” said Paytm First Games COO Sudhanshu Gupta.