“Dunzo Co-Founder Dalvir Suri to Depart Amid Restructuring Efforts”
Co-founder Dalvir Suri is set to exit Dunzo, the Reliance Industries-backed delivery platform, as the company grapples with funding challenges and announces an organization-wide restructuring. This move comes after several rounds of layoffs, salary adjustments, and the reduction of dark stores. Dunzo is currently in advanced talks for a substantial funding round.
Dunzo, the on-demand delivery platform backed by Reliance Industries, has announced a significant organizational shift as co-founder Dalvir Suri is set to exit the company. This decision comes amid ongoing challenges in securing funding and a series of cost-cutting measures.
Dunzo has faced funding difficulties in recent months, leading to several rounds of layoffs, deferred or reduced salaries for some employees, and a 50 percent reduction in its dark stores. The company has been actively seeking a funding deal to stabilize its financial position.
While specific details of the restructuring were not provided in the announcement, Dunzo has stated that further information will be shared with employees later this week, according to reports from financial news website Moneycontrol. The company did not immediately respond to requests for comment from Reuters.
Dalvir Suri, who joined Dunzo in May 2015, played a pivotal role in the company’s journey, particularly in leading its business-to-business unit known as Dunzo Merchant Services (DMS). Dunzo’s CEO and co-founder, Kabeer Biswas, praised Suri’s contributions, stating, “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.”
The departure date for Mr. Suri was not disclosed in the announcement, and Dunzo has not yet named a replacement for his role. The company’s other co-founders, Ankur Agarwal and Mukund Jha, continue to be part of the leadership team.
Despite the current challenges, Dunzo is reportedly in advanced negotiations to secure a funding round ranging between $25 million to $30 million. This funding round is expected to increase Reliance Retail’s stake in the company from its existing 25.8 percent.
The departure of Dalvir Suri and the restructuring at Dunzo mark a significant chapter in the company’s journey as it navigates the evolving landscape of the on-demand delivery industry. As Dunzo continues to seek financial stability and growth opportunities, the coming months will likely be closely watched by both industry observers and its loyal user base.
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