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Dunzo Raises $240 Million Led by Reliance Retail

Dunzo has received $240 million in the latest round of funding that was led by Reliance Retail Ventures Limited. This round also saw the participation of existing investors Lightbox, Lightrock, 3L Capital, and Alteria Capital.

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Dunzo Raises $240 Million Led by Reliance Retail

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  1. Dunzo Raises $240 MillionLed byRelianceRetail QuickcommercecompanyDunzohasreceived$240millioninthelatestroundoffundingthatwasledbyRelianceRetailVenturesLimited.ThisroundalsosawtheparticipationofexistinginvestorsLightbox,Lightrock,3LCapital,andAlteriaCapital. DunzowasreportedtobeengagedindiscussionswithRelianceforthepastthreeorfourmonthsregardingapossibleagreement.TherewerereportsinthemediasuggestingthatthecompanywasindiscussionstogetherwithTataGroup,Swiggy,andZomatotodiscussafreshround.But,thetalksdidnotoccur. Ontheotherhand,thisdealwithReliancemightbeseenasashock,givenRelianceGroup'shistoryofmakingoutrightacquisitions(Netmeds,Milkbasket)orfairlymoderatevaluations.Evenenteringintocompaniesthatcouldbeundersomesortofstrain(thecurrentFutureRetailbuy).FOMOmighthavehitRelianceatlastifyou'reinthemarketforaquicktrade. Alsoread:AgroStarSecured $70 Millionin itsSeries DFinancingRound TheroundisinwhichRelianceRetailhasinvested$200milliontopurchasea25.8percentshareinBengaluru'scompanyonafullydilutedbasis.ThevaluationoftheGoogle-backedfirmisupto$775million.BasedonFintrackr'sestimates,itwasvaluedatjustover$300millionatthetimeofitsMarchlaunchoflastyear. AccordingtoDunzo,thecapitalistoexpandDunzo'sgoalofbecomingthemostefficientandquick-to-marketbusinessinIndia,whichwillallowthedeliveryofnecessitiesinamatterof

  2. minutesthroughasystemofsmallwarehousesandgrowingitsbusinesssegmenttoprovidelogisticstolocalretailerswithinIndiancities.minutesthroughasystemofsmallwarehousesandgrowingitsbusinesssegmenttoprovidelogisticstolocalretailerswithinIndiancities. Aspartofthecollaboration,DunzowillprovidehyperlocallogisticstotheretailstoresrunthroughRelianceRetailandwillalsoenablelast-miledeliveriesforJioMart'smerchant'snetwork.Dunzointroduceditsinstantdeliverymodel,'DunzoDaily,inBengaluruatthebeginningofthisyear.Theserviceiscurrentlyavailableacrosssevencities;thefirmisplanningtoexpanditsspeedycommercemodeltofifteencities. Thefiscalyearendedthe31stofMarch,2021whereDunzoreporteditsprofitsfromoperationstoincreaseby66.5percentto45.8croresfrom27.5croresitearnedinFY20.TheKabeerBiswas-ledcompanywasabletocutitslossby33.3percentfrom338.4millioninFY20to225.7millioninFY21. Alsoread:Zepto on ItsWayto Raise$250Million ThefastcommercemarketisgrowinginIndia,whereZomato-backedZeptoBlinkIt(formerlyGrofers),Swiggy,andOlaarealreadyexpandingtheiroperations.Swiggyhasrecentlyannouncedplanstoinvest$750millionintoSwiggyInstamarttofocusonrapidcommerce,whileBlinkItissaidtobeseekingadditionalfundingfromZomato.Zepto,agrocerydeliveryservicethatcanbedeliveredintenminutes.Zeptoalsosecured100millioninfundingtoincreaseitscoveragetoseveralcitiesinIndia. ForallthelatesthappeningsinthestartupworldandthelateststartupnewssubscribetoEntrackr.

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