India's Reliance takes 26% stake in delivery firm Dunzo for $200 million


FILE PHOTO: A bird flies past a Reliance Industries logo installed on its mart in Ahmedabad, India January 16, 2017. REUTERS/Amit Dave

BENGALURU (Reuters) - Reliance Industries Ltd's retail arm has invested $200 million for a 25.8% stake in Indian online delivery platform Dunzo to get a foothold into the rapidly growing market of superfast dispatch of household goods.

Billionaire Mukesh Ambani-owned Reliance Industries said on Thursday its retail arm led a $240 million funding round in Bengaluru-based Dunzo which offers lightning fast delivery of groceries and medicines and even offers to pick up and drop off documents and other items.

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