India’s leading quick delivery startup Dunzo has raised $240 million led Reliance Retail Ventures. Existing investors Lightbox, Ligthrock, 3L Capital, and Alteria Capital also participated in the funding round. Reliance Retail has invested $200 million and acquired a 25.8 percent stake.
“We are seeing a shift in consumption patterns to online and have been highly impressed with how Dunzo has disrupted the space.” 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.”
Dunzo is a delivery startup that lets customers buy several items across several categories including groceries, vegetables, pet supplies, and medicines.
Dunzo is currently available in seven cities. With the latest funding, the company aims to reach 15 cities. Dunzo and Reliance Retail will also enter into a business partnership that enables hyperlocal logistics for Reliance Retail stores operated by Dunzo. Dunzo will also facilitate last-mile deliveries for JioMart’s merchant network.
Dunzo Co-Founder and CEO 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 Indians shop for their daily & weekly essentials. We’re excited by the traction and velocity that Dunzo Daily has achieved and over the next three years, we aim to establish ourselves as one of the most reliable quick commerce providers in the country.”
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