DEALS CORNER
HYPERLOCAL DELIVERY STARTUP Dunzo is in advanced talks to raise $150-200 million from sovereign wealth funds based in the Middle East at a valuation unchanged from its previous funding round, or a flat round, people aware of the developments told FE. Sources added that Dunzo's largest shareholders, Reliance Retail and Google, are unlikely to participate in the latest capital infusion.
The Abu Dhabi Investment Authority (ADIA), also an investor in Reliance Jio, is understood to most likely lead the round. There are also slim chances that Dunzo has held talks with Abu Dhabi Developmental Holding Company (ADQ), sources added. They, however, reiterated that Reliance Retail and Google, who hold about 25.58% stake and 18.54% in Dunzo respectively and are its largest shareholders, will not participate in the current fundraise.
This story is from the November 18, 2022 edition of Financial Express Mumbai.
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This story is from the November 18, 2022 edition of Financial Express Mumbai.
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