Hyperlocal delivery startup Dunzo has raised $240 million (around Rs 1800 crore) in a funding round led by Reliance Retail Ventures with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital.

Reliance Retail led the round with an investment of $200 million and will hold a 25.8% stake in Dunzo on a fully diluted basis.

Cyril Amarchand Mangaldas acted as legal counsel to Dunzo and the team was led by Partner Karan Pahwa.

AZB & Partners advised Reliance Retail and the team was led by Partners Ashwath Rau and Jasmin Karkhanis.

Shardul Amarchand Mangaldas advised Lightrock and the team was led by Partner Manav Nagaraj along with Senior Associate Smita Rakshale.

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