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India's Reliance enters instant grocery delivery with Dunzo stake

Google-backed startup raises $240m, highlighting rise of quick commerce

BENGALURU -- India's Reliance Industries has invested $200 million for a 25.8% stake in domestic "quick-commerce" delivery startup Dunzo as the sprawling conglomerate led by Mukesh Ambani strengthens Jio Mart, its online grocery operation.

Existing backers Lightbox, Lightrock, 3L Capital and Alteria Capital infused another $40 million into Dunzo, the companies said Wednesday. Dunzo counts Google as an investor.

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