Dunzo seeks $20 million additional investment from Reliance Retail

Dunzo is seeking to raise an additional $20 million (about Rs 165 crore) from its largest shareholder, Reliance Retail. According to a report by the Economic Times, there are currently ongoing discussions regarding this as the company reportedly failed to reach its $75 million funding target back in April.

Reliance Retail picked up 25.8 per cent of Dunzo’s shares back in January 2022 after investing $240 million into the startup. Google on the other hand holds just below 20 per cent shares. If the ongoing discussions are successful, Reliance Retail’s ownership in the startup is expected to increase as they consider making an additional investment.