Tech
Reliance writes off its $200 million investment in Dunzo
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Reliance Industries has written off its investment in hyperlocal delivery platform Dunzo, according to its annual report for FY25. Reliance Retail had led a $240-million (around Rs 1,800 crore) funding round in Dunzo in January 2022, acquiring a 26% stake in the Bengaluru-based company.
In its FY24 annual report, Reliance had valued this stake at Rs 1,645 crore. The conglomerate had invested in Dunzo to expand its presence in the fast-growing quick commerce space.
Despite raising over $450 million in total, including $200 million from Reliance Retail,…
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