Mukesh Ambani is the richest person in India, with an estimated net worth of around Rs 9.6 lakh crore, according to Forbes. Apart from holding the position of Chairman at Reliance Industries, Ambani has also been investing his wealth in thriving startups. Dunzo is one such company that caught his interest and has now turned into a Rs 6,400 crore business, post-Ambani’s investment.
Meet the tech entrepreneur who made a Rs 6,400 crore business out of a WhatsApp group
Dunzo is the brainchild of Kabeer Biswas, a tech entrepreneur who teamed up with Ankur Agarwal, Dalvir Suri, and Mukund Jha, after his first startup, Hoppr, which was acquired by Hike. A computer science engineer, Biswas, gained experience in product development at Airtel, Videocon, and Y2CF, before starting his entrepreneurial journey with Dunzo.
According to Forbes, Biswas had initially created a WhatsApp group, where customers posted their orders. As the demand grew, he transformed the group into a hyperlocal, app-based service, providing services in Bengaluru, Mumbai, Delhi, Gurgaon, Pune, Chennai, Hyderabad and Jaipur. Dunzo began delivering groceries, essential supplies, and other commodities even before Blinkit and Swiggy Instamart.
Dunzo finds an investor in Mukesh Ambani
According to the Economic Times, Mukesh Ambani-owned Reliance Retail invested $240 million (approximately Rs 2,004 crore) in Dunzo, becoming the largest shareholder in the company with a 25.8% stake. According to DNA India, Dunzo’s valuation soon increased to $775 million (approximately Rs 6,472 crore). Interestingly, it also became the first Indian tech startup to receive a direct investment from Google — Rs 75 crore, according to Forbes.
Kabeer Biswas’ education qualifications
Kabeer Biswas earned a Bachelor’s Degree in Engineering from Mumbai University. After graduation, he pursued an MBA at NMIMS (Narsee Monjee Institute of Management Studies) in Mumbai.
Dunzo’s current challenges
Despite the progressive transition, Dunzo is currently facing a cash crunch due to the funding crunch across startups, according to News18. The company has delayed employees’ salaries on multiple occasions, been through several rounds of layoffs and pay cuts, and registered a loss of Rs 1,800 crore in 2023. Moreover, Dunzo’s valuation also declined to $200 million (approximately Rs 1,670 crore) in 2023, according to DNA and News18.
