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Task management app Dunzo raises Rs 20 cr debt from Alteria Capital

Task management app Dunzo raises Rs 20 cr debt from Alteria Capital
Photo Credit: 123RF.com

Hyperlocal logistics app Dunzo has raised Rs 20 crore debt from existing investor Alteria Capital.

Bengaluru-based Dunzo Digital, the company that runs the app, has allotted 2,000 Series E non-convertible debentures (NCDs) of Rs 1 Lakh each to Alteria Capital to raise the funds, according to the filings with the ministry of corporate affairs.

The company has raised Rs 34.56 crore in the last one month from Alteria Capital by issuing debentures as well as preference shares.

With the recent additions, total debt raised by Dunzo stands at Rs 56 crore.

Dunzo was founded in 2015 by Kabeer Biswas, Ankur Agarwal, Dalvir Suri and Mukund Jha. It fulfils tasks like grocery and restaurant deliveries, instant local courier and home services.

According to TechCircle estimates, Dunzo’s valuation is anywhere between $63 million-$65 million.

Alteria Capital

Alteria Capital, which recently announced the final close of its Rs 960 crore maiden fund, has deployed more than 60% of the corpus since its first close in March 2018.

The fund typically looks at post-Series A companies in the focus areas of consumer, technology and healthcare.

Local brand and event discovery app Little Black Book raised Rs 7 crore in venture debt through Series A debentures from Alteria Capital Fund – I.

Alteria also invested Rs 31 crore debt in healthtech startup mfine and Rs 80 crore venture debt in digital lending platform Lendingkart.

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