Bengaluru: Dunzo, who pioneered in India the concept of giving almost everything to anyone in the city, has raised $ 240 million in the funding round led by reliance knitting businesses.
By itself, Reliance Retail has invested $ 200 million for 25.8% of the shares in a Bengaluru business.
Existing Lightbox investors, Lightrock, 3L capital, and the capital Alteria also participated in the round.
Dunzo will use funds to strengthen his position in the Commerce business (Q-COMM) business quickly, enabling important instant delivery of micro warehouse networks, and to expand its vertical B2B which provides logistics for local traders in cities in India.
Under the partnership with Reliance Retail, Dunzo will provide hyperlocal logistics for retail stores operated with reliance, and facilitate the last shipping for Jiomart’s Merchant Network.
Reliance Reliance Retail Ventures, Isha Ambani said, “We see a shift in consumption patterns for online and have been very impressed with how Dunzo has disturbed space.
Dunzo is a pioneer of fast trade in India and we want to support them in advancing their ambitions to become the leading enabler of local trade in This country.
Through our partnership with Dunzo, we will be able to provide comfort for consumers Reliance Retail and different customer experiences through fast shipping products from Reliajht Rajut Shop.
Our traders will get access to the Dunzo hyperlocation shipping network to support their growth when they move businesses They are online through Jiomart.
“Commerce is quickly said to have market opportunities that can be handled by more than $ 50 billion.
At present, Dunzo is available in seven Metro cities in India and additional capital will be used to expand the Commerce Quick business to 15 cities.
Dunzo launched an instant delivery model ‘Dunzo Daily’ in Bengaluru earlier this year, which was said to see more than 20% week growth on Sunday.
Dunzo Daily gives essence within 15-20 minutes.
CEO Dunzo and Co-Founder Kabeer Kabeer Biswas said, “With this investment from Reliance Retail, we will have a long-term partner with whom we can accelerate growth and redefine how their indians are important and weekly.”
Reliance Retail obtained 26% in Dunzo for $ 200 million
