Reliance Retail has purchased a 25.8 per cent stake in Dunzo, India’s main fast supply participant, for $200 million (roughly Rs. 1,490 crore) because it seems to be to develop its presence in on-line grocery supply enterprise.

Dunzo raised $240 million (roughly Rs. 1,790 crore) in its newest funding spherical that was led by Reliance Retail Ventures — the retail arm of Reliance Industries, the 2 corporations stated in a press launch.

Existing buyers Lightbox, Ligthrock, 3L Capital, and Alteria Capital additionally participated within the funding spherical.

“With an investment of $200 million (roughly Rs. 1,490 crore), Reliance Retail will own 25.8 percent stake,” the assertion stated.

“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 stated. “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 Co-Founder and CEO Kabeer Biswas stated, “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.”