Of this, Reliance Retail acquired a 25.8 per cent stake in Danzo with an investment of US $ 200 million. Through this round of fundraising, Danso’s ability to create an exceptional user experience is enhanced. Thus, it has also established the confidence of existing and new investors.
The capital will be used to enhance the vision of Danzo, the nation’s largest fast trading company, and expand its B2B business to deliver essential goods from a network of micro warehouses to enable local merchants in Indian cities.
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With a market potential of USD 50+ billion, Danzo has established itself as a market leader in the fast trading segment in India. Danzo currently operates in 7 metro cities in India. Subsequently, this additional capital will be used to expand the rapid trade business to 15 cities.
Danzo launched its instant delivery model ‘Dunzo Daily’ in Bangalore earlier this year, which is seeing 20% weekly growth. The Tanzo Daily Model delivers daily and weekly essentials within 15-20 minutes. In it, it focuses on providing high quality fruits and vegetables.
In addition to funding, Danzo and Reliance Retail will be involved in some business partnerships. In it, Tanzo will implement hyperlogic logistics for retail stores operated by Reliance Retail and further strengthen Reliance Retail’s omni-channel capabilities. Danzo also facilitates last-mile deliveries to Geo Martin’s business network.
Reliance Retail Ventures Limited (RRVL) is a subsidiary of Reliance Industries Limited and the holding company of all retail companies under the RIL Group. Reliance Retail Ventures Ltd. had a combined revenue of Rs 157,629 crore ($ 21.6 billion) for the year ended March 31, 2021. Of this, net profit alone was Rs 5,481 crore ($ 750 million).
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