In a bid to expand presence in online grocery delivery business Reliance Industries’ retail arm -- Reliance Retail Ventures (RRVL) has acquired 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million. Dunzo has raised $240 million in its latest funding round that was led by RRVL. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
In addition to the funding, Dunzo and Reliance Retail will also enter into certain business partnerships. Dunzo will enable hyperlocal logistics for the retail stores operated by RRVL, further adding onto Reliance Retail's omni-channel capabilities.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
