Dunzo, the online delivery service has raised $240 million in its latest funding round led by the retail arm of Reliance Industries, Reliance Retail Ventures. Other than Reliance Retail Ventures, the existing investors, such as Lightbox, Lightrock, 3L Capital, and Alteria Capital also participated in the funding round.
Reliance Retail has purchased a 25.8% stake in Dunzo for $200 million in order to expand its presence in the online grocery delivery business.
The Director at Reliance Retail, Isha Ambani has said that with the partnership with Dunzo, they will try to make it more convenient for their customers. Kabeer Biswas, the co-founder and CEO of Dunzo has also said that the company can accelerate their growth with this long term partnership. He also said that Dunzo aims at being one of the most reliable quick commerce providers in the country.