Reliance Industries to buy Majority Stake in Logistics Startup Grab

Reliance Industries to buy Majority Stake in Logistics Startup Grab

  • 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.


Next Story
Share it
Top
To Top