RIL’s retail unit buys $200 mn stake in Dunzo
Dunzo, a quick commerce player, said it had raised $240 million, including $200 million from Reliance Retail Ventures Ltd., in its latest round of funding to expand into new geographies.
Reliance Retail will own 25.8% stake (on a fully diluted basis) in Dunzo, following ts investment.
The capital will aid Dunzo’s plans to enable instant delivery of essentials from a network of micro warehouses while also expanding its B2B business vertical to enable logistics for local merchants in Indian cities, it said in a statement.
In addition to the funding, both entities would also enter into certain business partnerships.