05 January 2025
Reliance Retail has written off its $200 million investment in hyperlocal startup Dunzo, following the company’s cash crunch and retreat from quick commerce over the past two years, according to an Inc42 report. Reliance, which holds a 25.8% stake in Dunzo from its investment in January 2022, is no longer involved in any discussions regarding additional funding or a distress sale.
Dunzo’s Kabeer Biswas is reportedly in talks with high-net-worth individuals and family offices for an acquisition deal, with the startup’s valuation set between Rs 300 crore ($25-$30 million), the report added. Biswas recently resigned, joining co-founders Mukund Jha, Dalvir Suri, and Ankur Agarwal, who had already stepped down.
Reliance Retail has written off its $200 million investment in hyperlocal startup Dunzo, following the company’s cash crunch and retreat from quick commerce over the past two years, according to an Inc42 report. Reliance, which holds a 25.8% stake in Dunzo from its investment in January 2022, is no longer involved in any discussions regarding additional funding or a distress sale.
Dunzo’s Kabeer Biswas is reportedly in talks with high-net-worth individuals and family offices for an acquisition deal, with the startup’s valuation set between Rs 300 crore ($25-$30 million), the report added. Biswas recently resigned, joining co-founders Mukund Jha, Dalvir Suri, and Ankur Agarwal, who had already stepped down.
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