Dunzo picks up $11 million from Alteria Capital

BENGALURU: Venture debt firm Alteria Capital has invested $11 million in Bengaluru-based hyperlocal delivery startup Dunzo. The funding will help Dunzo scale up in other geographies, while retaining value for its existing shareholders, including employees, the company said in a statement.

“Profitability has always been the barometer of success and we’re seeing it manifest across several of our micro-markets. As we deploy this playbook into other cities, we’re extremely conscious of what our consumers want,” Kabeer Biswas, CEO of Dunzo, said. “...as markets turn profitable, we are able to fuel our growth with debt while having a significantly higher return on investment for customers and stakeholders,” he added.