Reliance Industries to buy Majority Stake in Logistics Startup Grab
28 Feb 2019 5:03 AM GMT
Reliance Industries (RIL) is in advanced discussions to buy a majority stake in Grab�(Grab a Grub�Services Pvt. Ltd) , a hyperlocal logistics startup backed by SIDBI Venture Capital, the venture capital arm of Small Industries Development Bank of India (SIDBI), reported Times of India (TOI) citing sources familiar
- Reliance Industries (RIL) is in advanced discussions to buy a majority stake in Grab ( Grab a Grub Services Pvt. Ltd) , a hyperlocal logistics startup backed by SIDBI Venture Capital, the venture capital arm of Small Industries Development Bank of India (SIDBI), reported Times of India
- The size of the acquisition could not be ascertained however.
- Grab provides third-party, last-mile logistics services for food delivery companies, online pharmacy and grocery delivery, among others.
- Its logistics service is used by businesses encompassing restaurants, e-commerce companies, retailers, grocers, pharmacies, food tech platforms and banks, among others.
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