Mumbai, Jan 6 : Reliance Industries Limited (RIL)’s retail arm Reliance Retail has acquired a 25.8 per cent stake in online delivery platform Dunzo with an investment of USD 200 million.

Reliance Retail will own the 25.8 per cent stake on a fully diluted basis, a statement said Today.

The capital will be used to further Dunzo’s vision to be the largest quick commerce business in the country, enabling instant delivery of essentials from a network of micro warehouses while also expanding its B2B business vertical to enable logistics for local merchants in Indian cities.

Dunzo will enable hyperlocal logistics for the retail stores operated by Reliance Retail, further adding onto Reliance Retail’s omni-channel capabilities. The Bengaluru-based firm will also facilitate last mile deliveries for JioMart’s merchant network, the statement said.

Dunzo raised US$ 240 million in its latest round of funding. The investment was led by Reliance Retail Ventures Limited with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital.

Isha Ambani, Director, Reliance Retail Ventures Limited, said, “Dunzo is the pioneer of Quick Commerce in India and we want to support them in furthering their ambitions of becoming a prominent local commerce enabler in the country. 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,” she said.

Kabeer Biswas, CEO and Co-Founder, Dunzo, 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 and weekly essentials. We’re excited by the traction and velocity that Dunzo Daily has achieved and over the next 3 years, we aim to establish ourselves as one of the most reliable quick commerce providers in the country.”(UNI)