NEW DELHI: Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for USD 200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business.
The two firms said in a statement that Dunzo raised USD 240 million in its latest funding round that was led by Reliance Retail Ventures Ltd - the retail arm of Reliance Industries.
Existing investors Lightbox, Ligthrock, 3L Capital and Alteria Capital also participated in the funding round. "With an investment of USD 200 million, Reliance Retail will own 25.8 per cent stake," the statement said.