India's Reliance enters instant grocery delivery with Dunzo stake

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

Founded in 2014, Dunzo promises grocery deliveries within 20 minutes. © Getty Images

SAYAN CHAKRABORTY, Nikkei staff writer

January 7, 2022 00:33 JST

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.