Dunzo raises $240Mn investment in its latest funding round
Hyperlocal delivery startup Dunzo has raised $240 million in a funding round led by Reliance Retail Ventures Ltd., with participation from existing investors. Reliance Retail will own a 25.8% stake in Dunzo post investing $200 million on a fully-diluted basis.
Dunzo plans to use the funds to further enable instant delivery of essentials from a network of micro warehouses while also expanding its B2B vertical to enable logistics for local merchants in Indian cities.
A statement issued by Jio stated that Dunzo will enable hyperlocal logistics for the retail stores operated by Reliance Retail, further adding onto Reliance Retail’s omni-channel capabilities. Dunzo will also facilitate last mile deliveries for JioMart’s merchant network.
Reliance Retail Director Isha Ambani said, “Through our partnership with Dunzo, we will be able to provide increased convenience to Reliance Retail's consumers and differentiated customer experience through rapid delivery of products from Reliance Retail stores. Our merchants will get access to the hyperlocal delivery network of Dunzo to support their growth as they move their business online through Jio Mart.”
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