One more high profile exit from the startup ecosystem. This time it’s from Dunzo. The Reliance-backed on-demand delivery platform Dunzo reportedly revealed one of its four co-founders, Dalvir Suri, would leave the company. The startup confirmed this development and also announced an organization-wide restructuring from this quarter.
The company is also looking at undertaking significant organisation-wide restructuring starting this quarter, as per Biswas, details of which will be revealed in due time.
Suri has stepped down from his role and Dunzo CEO and co-founder Kabeer Biswas commented on his departure, “Dalvir has been instrumental in building out every new line of business at Dunzo, and the DMS business has very capable leadership that’s picking up directly after him.”
As per available sources, the startup has been grappling with funding challenges and in the recent times it has witnessed a series of layoffs, deferred or reduced salaries for some employees, along with a 50% reduction in its dark stores.
Last week, reports were there that Dunzo is in advance talks to close a $25 million to $30 million funding round that will raise Reliance Retail’s 25.8% stake in the firm. Currently, Reliance owns a 25% stake in Dunzo, while Google holds just under 20%.
In funding over 19 rounds, the startup’s latest funding was raised on April 6, 2023 from a Convertible Note round. The same month, the company fired 30% of its workforce which is around 300 employees.
As per an official statement by the company, it will now focus on offering services through third-party grocery stores and is expected to expand on its B2B offerings going forward. Suri had noted in July this year that the company, which is currently operational in 10 cities, will expand to 10-15 more cities in the next 18 months on the back of its B2B logistics business.
