Google has picked up a minority yet noteworthy stake in hyper-local concierge and delivery player Dunzo, its first direct investment in an Indian startup underlining how the global search giant is quietly getting into an investment mode in the country. Google led a $12-million investment in the Bengaluru-based startup which also saw participation of early backers Aspada Investments and...
Google has picked up a minority yet noteworthy stake in hyper-local concierge and delivery player Dunzo, its first direct investment in an Indian startup underlining how the global search giant is quietly getting into an investment mode in the country.
Google led a $12-million investment in the Bengaluru-based startup which also saw participation of early backers Aspada Investments and Blume Ventures.
Google was advised by AZB & Partners and the team was led by Partner Chetan Nagendra along with Senior Associates Malaveeka Chakravarthy and Amar Keralikar.
Geetanjali Swamy of NDS Law Partners advised Dunzo.
The investment is part of Google's 'Next Billion Users' push, as it seeks to build an ecosystem in India across high-frequency hyper-local transactions as well as in the healthcare, financial services, and education sectors.
Google wants to build an ecosystem in India similar to those of Flipkart, Paytm-Alibaba and Amazon India, ecommerce giants that are investing significantly across food-delivery, grocery and local services, said sources.