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Tata digital on a shopping spree
June 09, 2021
Tata Digital has been on a shopping spree and quickly adding names like CureFit and BigBasket to its truck. Next is the Google-sponsored hyperlocal delivery platform Dunzo. The unit of Tata Sons has reportedly started talks with Dunzo for a controlling stake.
The potential deal may value the organization at $150-200 million, sources aware of everything told Livemint. Recently, the organization, upheld by Lightbox and Blume Ventures, raised $40 million as a component of its Series E financing. The organization is hoping to raise as much as $150 million to expand its reach. It plans to turn into a $1-billion income business in the following two years.
This development comes after Tata Digital said on Monday that it will put $75 million in wellness startup Curefit, days after it finished its procurement of online grocer BigBasket. It is additionally supposed to consider gaining on the online drug marketplace 1mg. The Tata Sons unit is building a super-application for consumer-facing business.
Launched by Kabeer Biswas, Ankur Agarwal, Dalvir Suri, and Mukund Jha in 2015, Dunzo was esteemed at $220 million in June 2020. The organization’s gross merchandise value (GMV) multiplied a year ago in the midst of the pandemic. Dunzo is currently a $100 million annualized GMV business.
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