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Dunzo raises $240 million funding round led by Reliance Retail



Reliance Retail has bought a 25.8 percent stake in India’s leading instant delivery company Dunzo for $200 million (about Rs 1,490 crore), as it looks to expand its presence in the online grocery delivery business.

Dunzo raised $240 million (about Rs 1,790 crore) in its latest funding round, led by Reliance Retail Ventures – the retail arm of Reliance Industries, the two firms said in a press release.

Existing investors Lightbox, Ligthrock, 3L Capital and Alteria Capital also participated in the funding round.

“With an investment of $200 million (approximately Rs 1,490 crore), Reliance Retail will hold 25.8 per cent stake,” the statement said.

“We are seeing changes in consumption patterns online and have been greatly influenced by how Dunzo has disrupted the space.” Reliance Retail Director Isha Ambani said. “Through our partnership with Dunzo, we will be able to offer Reliance Retail consumers greater convenience and differentiated customer experiences through faster delivery of products from Reliance Retail stores. Our merchants will have access to Dunzo’s hyperlocal delivery network to support their growth as they move their business online through Jio Mart. ,

Kabir Biswas, Co-Founder and CEO, Dunzo said, “With this investment from Reliance Retail, we will have a long-term partner with whom we can drive growth and define how Indians can fulfill their daily and weekly essentials. How do you shop for items? We are excited by the traction and velocity that Dunzo Daily has gained and, over the next three years, we aim to establish ourselves as one of the most reliable instant commerce providers in the country. ,

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