Cash-strapped Dunzo may secure $25-$30 million capital

Quick-Commerce company, Dunzo is in advanced stages of closing $25-30 million deal, reported MoneyControl. As per the report, key investors including Reliance Retail, Google, Lightrock are participating in the round.

The investors will pump in money on a pro-rata basis which means investment will be done based on the investors' existing stake in the company. As per Moneyconytrol, Reliance Retail will invest on a super pro-rata basis which means it will increase its ownership in Dunzo, while the shareholding pattern for other investors will remain the same.

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Reliance Retail is already the largest stakeholder holding, 25.8% stake in the company. Google India which is the second-largest investor in Dunzo holds about 19% stake. Lightbox, Lightrock, Blume Ventures are other prominent backers of the quick-commerce company.

MoneyControl further reported that this fund will be used to pay salaries and help Dunzo to meet its other capital requirements.

This comes as a breather to Dunzo which has been financially struggling so much as it was even prepared to give up its office space to save costs