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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Investment a prelude to acquiring the hyperlocal delivery startup and getting into express deliveries.
Pranav here. The big news of the week was Reliance Retail investing about $200 million in hyperlocal delivery startup Dunzo for a 25.8% stake. The deal, announced yesterday, also saw Dunzo raise $40 million or so from some existing investors, such as Lightrock and Alteria Capital.
The round, which saw the retail arm of oil-to-telecoms conglomerate Reliance Industries become Dunzo’s biggest shareholder, valued the Bengaluru-based startup at around $750-800 million.
This is obviously a strategic investment, a prelude to Reliance Retail acquiring Dunzo and getting into a sector now termed quick commerce—rapid deliveries of groceries or consumer goods, usually under …
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