The company said the capital infusion will help it continue investments in future roll-outs to build large network capacity and create content and technology partnerships
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
This, despite squeeze in start-up funding; $946 mn Bharti Infratel deal is biggest so far this year
The move is a show of faith from three of the world's biggest technology companies in fast-growing Snapdeal
