Reliance Retail picks 25.8% stake in Dunzo

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NEW DELHI: Reliance Retail has bought a 25.8 per cent stake in Dunzo, India’s leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business.
Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) – the retail arm of Reliance Industries, the two firms said in a statement.
Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
“With an investment of $200 million, Reliance Retail will own 25.8 per cent stake,” the statement said.
In addition to the funding, Dunzo and Reliance Retail will also enter into certain business partnerships.
Dunzo will enable hyperlocal logistics for the retail stores operated by RRVL, further adding onto Reliance Retail’s omni-channel capabilities….

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