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Asia’s Richest Man Invests $200 Million in E-Commerce Startup

Mukesh Ambani in Mumbai, India.

Mukesh Ambani in Mumbai, India.

Photographer: NurPhoto/Getty Images

Mukesh Ambani’s conglomerate purchased a 25.8% stake in Bangalore-based delivery company, Dunzo, for $200 million as Asia’s richest man seeks to boost his retail portfolio in one of the world’s largest consumer markets.

Dunzo raised $240 million in its latest round of funding led by Reliance Industries Ltd. unit Reliance Retail Ventures Ltd. along with existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital.