Kalpavriksh, the non-public equity arm of economic services firm Centrum, stated it has invested in more firms from its debut fund, which includes the task management app Dunzo.
Kalpavriksh has invested Rs 5 crore ($720,000) in Dunzo Digital Pvt. Ltd.
Founded in 2015 with Kabeer Biswas, Ankur Aggarwal, Dalvir Suri, and Mukund Jha, Dunzo is a chat-based task management app that permits customers to create to-do lists. It fulfills tasks consisting of grocery and restaurant deliveries, immediate neighborhood courier offerings, and home services. The platform uses both artificial intelligence and human operators to offer its services.
Bengaluru-primarily based Dunzo will use the capital to expand Pune, Chennai, Hyderabad, Delhi, and Gurugram.
“We trust that Dunzo’s cognizance of cost-efficient logistics offerings by dealing with potential utilization throughout the day will enable it to attain a competitive side in the hyperlocal services market,” said Anshul Agarwal, executive director at Kalpavriksh.
The startup offers services through a mobile app on both Android and iOS platforms. The Dunzo app has been downloaded by over a million Android customers, going with the records’ aid at the Google Play save.
In February, Dunzo raised $6.5 million (around Rs 46 crore) from a snatch of recent and previous investors, including Deep Kalra, the chairman and organization chief govt officer of online tour offerings issuer MakeMyTrip. It is likewise subsidized using Google, Blume Ventures, and Alteria Capital.
Kalpavriksh also put Rs 10 crore ($1.Four million) in The Ayurveda Experience, a Delhi-primarily based online Ayurveda merchandise platform owned via Transformative Learning Pvt. Ltd.
Through its manufacturers, iYURA and Ajara, the employer offers healthcare, non-public care, and ayurvedic merchandise in 5 countries.
The firm seeks to scale up its research and development facility to develop its product portfolio similarly and grow its geographic attain. As a part of the investment settlement, Giri Krishnaswamy, investment chief, Kalpavriksh, will be a part of the enterprise’s board.
Kalpavriksh was launched in November 2016 with a corpus of Rs 500 crore. It invests in excessive-increase unlisted corporations inside the purchaser, training, generation, healthcare, and health sectors.
Kalpavriksh had invested $three million in ed-tech startup Littlemore in March 2018. In December 2017, it invested Rs 20 crore (around $3.1 million) in The Label Life, a top-class online way-of-life brand.
Kalpavriksh had invested Rs 6 crore (a little less than $1 million) in HEAL Institute, a sports medication and physiotherapy chain.
