Indian Startups Dunzo & Sharechat posted losses in FY19. Considered to be disruptors in their domains both of them faced stiff competition from Swiggy & Helo repectively.
Both Dunzo & Sharechat’s had higher losses compared to the Previous fiscal year.
Dunzo ,Founded by Kabeer Biswas, Mukund Jha, Dalvir Suri, and Ankur Aggarwal in 2015, Connects merchants & Partners& users to facilitate delivery. Dunzo currently operates in 9 cities and has over two million deliveries every month had reported losses of Rs.169 Cr this fiscal year against 21.9 Cr in the previous fiscal year.
Dunzo had recently raised $ 45 Million dollars in Series D Funding , Dunzo was one of the few Indian companies to get funded by Google.
Sharechat founded by IIT alumunus posted a loss of 415 Cr against 33.8 cr in the FY 18 which is twelve times more than the previous year,Sharechat had raised 100 Million in series D funding with Twitter being the major investor.
ShareChat allows users to share their opinions & make new friends — all within the comfort of their native language. Sharechat is available in 14 Languages.
It has been a hectic week for the Indian Start-ups as Shop clues was acquired by Singapore based Qoo10 according to The Economic Times.