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

Reliance Retail has purchased a 25.8 per cent stake in Dunzo, India’s main fast supply participant, for $200 million (roughly Rs. 1,490 crore) because it seems to be to broaden its presence in on-line grocery supply enterprise.

Dunzo raised $240 million (roughly Rs. 1,790 crore) in its newest funding spherical that was led by Reliance Retail Ventures — the retail arm of Reliance Industries, the 2 companies stated in a press launch.

Current buyers Lightbox, Ligthrock, 3L Capital, and Alteria Capital additionally participated within the funding spherical.

“With an funding of $200 million (roughly Rs. 1,490 crore), Reliance Retail will personal 25.8 p.c stake,” the assertion stated.

“We’re seeing a shift in consumption patterns to on-line and have been extremely impressed with how Dunzo has disrupted the house.” Reliance Retail Director Isha Ambani stated. “Via our partnership with Dunzo, we will present elevated comfort to Reliance Retail’s shoppers and differentiated buyer expertise by way of speedy supply of merchandise from Reliance Retail shops. Our retailers will get entry to the hyperlocal supply community of Dunzo to assist their progress as they transfer their enterprise on-line by way of Jio Mart.”

Dunzo Co-Founder and CEO Kabeer Biswas stated, “With this funding from Reliance Retail, we can have a long-term associate with whom we are able to speed up progress and redefine how Indians store for his or her day by day & weekly necessities. We’re excited by the traction and velocity that Dunzo Every day has achieved and over the following three years, we goal to ascertain ourselves as one of the dependable fast commerce suppliers within the nation.”

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