Reliance Retail Ventures Ltd (RRVL) invests $200 million in 'Dunzo'
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07 January 2022, Mumbai:
Reliance Retail Ventures, a subsidiary of Reliance Industries has invested $200 million in quick commerce delivery startup Dunzo.
The investment will increase RRVL’s stake in Dunzo to 25.8 per cent, The existing investors of Dunzo including Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
In addition to this funding round, both the companies plan to partner for enabling hyperlocal logistics for retail stores operated by Reliance Retail. This will add to Reliance's omnichannel capabilities and also help facilitate last-mile deliveries for JioMart’s’s merchant network.
RRVL said the capital will be used 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 across Indian cities.
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