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.

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