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Reliance retail acquires 25.8% stake in Dunzo
January 07, 2022
Reliance Retail said it has driven a $240 million funding round in quick commerce firm Dunzo and will now own 25.8% stake in the Bengaluru-based startup, marking the oil-to-technology conglomerate entry into the super quick commerce area.
Post this deal, Reliance Retail is currently the biggest investor in Dunzo.
Kabeer Biswas, co-founders and CEO of Dunzo, let ET know that joining forces with the biggest retailer in the nation will give it a ‘huge advantage’ against competitors and that both the organizations are hoping to team up on the supply chain side.
Reliance entry into the quickly extending quick commerce space comes when significant investments are being filled into start-ups like Blinkit (earlier Grofers), Mumbai-based Zepto and Swiggy’s Instamart. Tata owned BigBasket is likewise expected to begin its 15-30-minute delivery service soon.
Dunzo, what began life as a hyperlocal delivery platform, has recently launched its own quick commerce services, which is facilitated with dark stores.
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