M&A

M&A

Tata Digital in talks for controlling stake in hyperlocal delivery co Dunzo: report

Mint  

Tata Digital, a unit of Tata Sons Ltd, has begun talks to buy close to a controlling stake in hyperlocal delivery startup Dunzo. The potential deal may value the six-year-old company at USD 150-200 million (INR 1,093-1,457 crore). Dunzo Digital Pvt Ltd, backed by Google, Lightbox and Blume Ventures, had raised USD 40 million (around INR 290 crore) as part of its Series E funding round earlier this year. The company was reportedly planning to raise USD 150 million to extend its reach and become a USD 1 billion revenue business in the next two years. Dunzo's revenue from operations grew over fourfold to INR 77 crore for the year ended 31 March 2020.