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Embattled quick delivery start-up Dunzo cofounder Dalvir Suri is leaving the company, according to sources aware of the matter. He spent more than six years in the company and worked alongside Kabeer Biswas, Ankur Aggarwal and Mukund Jha.
“Dalvir has been instrumental in building out every new line of business at Dunzo. He has been the key zero to one person from the founding team that just gets things Dun. He has been meaning to take a break for sometime now – and with 6+ years spent building Dunzo, he plans to move forward to pursuing new journeys,” said Dunzo co-founder and CEO Kabeer Biswas.
Biswas said that Suri has been meaning to take a break for some time now and plans to move forward by pursuing new journeys, according to the email to employees.
He was involved in the company’s business-to-business delivery arm, Dunzo Merchant Services (DMS). The vertical had emerged as Dunzo’s core business driver as it scaled down consumer-facing operations across the seven geographies it was earlier present in.
Also read: Dunzo users cumulatively tipped ₹3 crore to delivery partners in 2022
The startup has drastically reduced the scale of its quick commerce operations to conserve cash over the past year. It now doesn’t run its own dark stores but offers services through third-party grocery stores.
Dunzo is in the midst of a fundraise, lining up $25-30 million. The cash-strapped company has also taken organisational restructring. Employees are yet to receive their July salary and a portion of their June pay. It paid August salaries through payroll financing app OneTap. It will also be vacating its current office to move into a smaller one.
The company had to shut down dark stores. It has planned to give up its office space in Bengaluru and even fired hundreds of employees across three rounds of layoffs.
Dunzo has so far raised close to $500 million since 2015 from Reliance, Google, Lightrock, Lightbox, Blume Ventures and several others. Reliance is the largest shareholder with a 25.8 per cent stake in the company, according to Tracxn.
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