Current Affairs   »   Mukesh Ambani’s Reliance Retail invests $200...

Mukesh Ambani’s Reliance Retail invests $200 mn in Dunzo to acquire 25.8% stake

Mukesh Ambani's Reliance Retail invests $200 mn in Dunzo to acquire 25.8% stake_50.1

Mukesh Ambani’s Reliance Retail has invested $200 million or around Rs 1,488 crore in Bengaluru-based quick commerce player Dunzo for a 25.8 per cent stake on a fully diluted basis. The move will help Reliance get a foothold in the country’s growing quick delivery market. Dunzo raised a total of $240 million in this latest round led by the Reliance Industries Ltd arm. The other existing investors were Lightbox, Ligthrock, 3L Capital and Alteria Capital, who participated in the round.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

The funding will be used to strengthen Dunzo’s vision to excel in the quick commerce business, enabling instant delivery of essentials from a network of micro warehouses while also expanding its B2B business vertical to enable logistics for local merchants in Indian cities.

Important takeaways for all competitive exams:

  • Dunzo Founder(s): Kabeer Biswas, Ankur Agarwal, Dalvir Suri, Mukund Jha;
  • Dunzo Founded: July 2014;
  • Dunzo Headquarters location: Bengaluru.

Find More Business News Here

Mukesh Ambani's Reliance Retail invests $200 mn in Dunzo to acquire 25.8% stake_60.1

Mukesh Ambani's Reliance Retail invests $200 mn in Dunzo to acquire 25.8% stake_70.1

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *