Dunzo raises $240 mn in round led by Reliance to take on Amazon, Flipkart

Dunzo, the Google-backed quick commerce player, has raised $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. With an investment of $200 million, Reliance Retail will own 25.8 per cent stake on a fully diluted basis. According to the sources, Dunzo’s valuation has crossed $800 million in this funding round. The company was valued at $300 million in March 2021, according to an Entrackr report.

Reliance said this funding round is a reinstatement of confidence of existing and new investors