Dunzo Raises $240 Million in Funding Round Led by Reliance Retail 6r2x3r Technology News

Reliance Retail picked a 25.8 percent stake in Dunzo for $200 million (roughly Rs. 1,490 crore). 2o4144

By Gadgets 360 Staff With Inputs From PTI | Updated: 6 January 2022 17:36 IST

Dunzo Raises $240 Million in Funding Round Led by Reliance Retail

Photo Credit: Facebook/ Dunzo 2k6y4d

The latest funding round for Dunzo was led by Reliance Retail Ventures

Highlights

Existing investors also participated in the funding round
Dunzo raised $240 million (roughly Rs. 1,790 crore) in its latest funding
Reliance Retail will own 25.8 percent stake

ment

Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick delivery player, for $200 million (roughly Rs. 1,490 crore) as it looks to expand its presence in online grocery delivery business.

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.

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"With an investment of $200 million (roughly Rs. 1,490 crore), Reliance Retail will own 25.8 percent stake," the statement said.

“We are seeing a shift in consumption patterns to online and have been highly impressed with how Dunzo has disrupted the space.” Reliance Retail Director Jio Mart.”

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Dunzo Co-Founder and CEO Kabeer Biswas said, “With this investment from Reliance Retail, we will have a long-term partner with whom we can accelerate growth and redefine how Indians shop for their daily & weekly essentials. We're excited by the traction and velocity that Dunzo Daily has achieved and over the next three years, we aim to establish ourselves as one of the most reliable quick commerce providers in the country.”

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