Dunzo Daily, the quick commerce arm of Reliance Retail-backed Dunzo, now accounts for 60% of the company’s total business, the company said on Monday. It claims to deliver its q-commerce orders within 19 minutes in multiple cities. Further, the firm said it opened 1 micro fulfilment centres every 1.5 days between January and March. Dunzo Daily has grown 27x in the past year and is on the path to clock 100 million annualised orders.
“Financial year 2023 is going to be focused on rapidly growing its quick commerce business and achieving market leadership in multiple geographies, while moving towards stronger unit economics,” the company said in a release. Google-backed Dunzo, while announcing its FY22 results, had said its burn rate for key business categories was down by 50%.
Further, the company said its business grew 94% in FY22 but did not reveal specific numbers. In FY21, the firm’s operating revenue jumped 67% y-o-y to Rs 46 crore. Its expenses were down 27% but remained high at Rs 264 crore in FY21, which resulted in a total loss of Rs 226 crore. This comes at a time when the company is talking to investors to raise $250-$300 million, according to reports.
“In FY23, while focusing on growth we will further optimise our investments to build robust unit economics…We are in this game for the long run, and so are our investments and actions for our consumers”, said Kabeer Biswas, CEO and co-founder, Dunzo.