Dunzo funding

Reliance Retail-backed Dunzo is in talks to raise up to $100 million (Rs 825 crore) through convertible notes, people aware of the matter said, joining a growing list of startups which have tapped alternate funding routes to preserve their valuations. Dunzo is primarily raising this capital to expand its quick commerce service, Dunzo Daily, people in the know said. The round is in advanced stages of closure and could finally settle in the range of $70-100 million, the people said. The Bengaluru-based startup was initially…

Over the past six months, convertible notes have emerged as a lifeline for many highly valued, growth-stage startups which were unsuccessful in raising funds through the traditional equity route. Today, we are reporting that Reliance-backed delivery startup Dunzo is likely to join the likes of B2B e-commerce company Udaan and epharmacy platform PharmEasy in tapping the convertible note route to shore up fresh funds. This and more in today’s packed edition of the ETtech Morning Dispatch.Also in the letter:■ Govt’s data…