New Delhi, Aug. 7 -- Reliance Retail has written off its investment of nearly Rs.1,645 crore in hyperlocal convenience firm Dunzo, more than three years after investing in the company, according to Reliance Industries' FY25 annual report. The conglomerate's retail division owned nearly 26% stake in Dunzo.

Reliance led a $240-million (about Rs.1,800-crore) funding round in Dunzo in January 2022, alongside Lightbox, Lightrock, 3L Capital and Alteria Capital. Dunzo was Reliance Retail's opportunity to enter the quick commerce race, an industry that is now expected to cross $60 billion by 2030.

The deal was expected to enable hyperlocal logistics for Reliance Retail's retail outlets as well as strengthen the company's omni-channel capabilit...