Dalvir Suri, one of the four co-founders of the on-demand delivery platform Dunzo, has announced his departure from the cash-strapped startup backed by Reliance Industries. The company also revealed plans for an organization-wide restructuring starting this quarter.
Here’s a brief profile of Dalvir Suri:
- Suri joined Dunzo in May 2015, a year after its inception. He eventually took charge of Dunzo Merchant Services (DMS), leading its business-to-business unit.
- Prior to joining this Reliance-backed venture, Suri held the position of Head Of Operations at Cybrilla Technologies, according to his LinkedIn profile.
- He also gained experience at IBM, working as an application developer and a security and privacy consultant.
- Suri pursued his Bachelors in Engineering from Sardar Patel Institute of Technology, Mumbai University.
The other co-founders of Dunzo are Ankur Agarwal, Kabeer Biswa, and Mukund Jha.
CEO and co-founder Kabeer Biswas praised Suri’s significant role in establishing various lines of business at Dunzo, emphasizing the capable leadership taking over the DMS business.
Dunzo has faced challenges in securing funding in recent months, leading to announcements of multiple rounds of layoffs, deferred or reduced salaries for some employees, and a 50% reduction in its dark stores. The company has not yet named Suri’s replacement.
Reports suggest that Dunzo is in advanced discussions to finalize a funding round of $25 million to $30 million, which would increase Reliance Retail’s stake in the firm from 25.8%. This information was reported by Moneycontrol last week.
Earlier this year in April, Dunzo successfully raised $75 million (approximately ₹616 crore) but also implemented cost-cutting measures, including the termination of around 400 employees in the first half of the year. They also deferred salaries for half of their 1000-strong workforce until July 20, with the top management being the most affected.
