Reliance Retail is now the largest investor in Dunzo, which is helping to expand the quick commerce model to India.
Dunzo, the India-based provider of a consumer product delivery app, raised $240m yesterday in a funding round led by Reliance Retail, the retail subsidiary of conglomerate Reliance Industries, underlining the international expansion of quick commerce and hyperlocal delivery services.
Reliance Retail paid $200m for a 25.8% stake, making it the company’s biggest investor, Dunzo co-founder and CEO Kabeer Biswas told the Economic Times. The round more than doubled its valuation from approximately $300m to $775m, and Lightbox, Lightrock, 3L Capital…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
