Reliance invests $200m in quick commerce player Dunzo
The delivery company is seeking to expand its operations to 15 Indian cities.
Reliance Retail has invested $200m in India-based quick commerce player Dunzo, leading a latest round of funding that allows the retail giant to own a 25.8% stake in the company, the company revealed in a media release.
Dunzo has raised $240m in its latest round of funding, with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital.
The capital will be used to expand Dunzo’s operations, enabling instant delivery of essentials from a network of micro warehouses while also expanding its business-to-business business vertical to enable logistics for local merchants in Indian cities.
Dunzo is currently available across 7 metro cities in India and the additional capital will be used to expand the quick commerce business to 15 cities.
Dunzo launched its instant delivery model ‘Dunzo Daily’ in Bengaluru earlier this year. The odel delivers daily and weekly essentials within 15-20 minutes, with a focus on providing high quality fruits and vegetables.