Reliance Retail picks up 26% in Dunzo aimed at helping Last-Mile Delivery
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07 January 2022, Mumbai:
Leads $240Mn Round In Move Aimed At Boosting Last-Mile Delivery For JioMart
Dunzo, which pioneered in India the concept of delivering almost anything to anyone within a city has raised $240 million in a funding round led by Reliance Retail Ventures On Its own. Reliance Retail has invested $200 million for a 25 8% stake in the Bengaluru venture. Existing Investors Lightbox, Light rock, L Capital, and Alteria Capital also participated in the round.
Dunzo CEO and co-founder Kabeer Biswas said, "With this investment from Reliance Retail, we will have a long-term partner with whom we can accelerate growth and redefine how Indians shop for their daily and weekly essentials"
SOURCE: TOI Dt 07-01-2022
(The news article has not been edited by DFU Publications staff)
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