Dalvir Suri was “instrumental in building out every new line of business” at Dunzo, according to CEO Kabeer Biswas.
- SUMMARY Suri has been in charge of Dunzo Merchant Services (DMS), its B2B logistics division.
- DMS has risen to the top of the organization as the cash-guzzling fast commerce model struggles to turn a profit.
- It has started a company-wide restructuring in response to a continuing capital shortage this quarter.
According to many persons familiar of the development, Dalvir Suri, co-founder of the quick commerce company Dunzo, has left the organization amid the company’s financial strain and job cuts. Suri has been in charge of Dunzo Merchant Services’ (DMS) business-to-business logistics division. It announced this quarter’s company-wide restructure and verified Suri’s resignation.
“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 it, he plans to move forward to pursuing new journeys,”, CEO and Founder, said.
DMS has been increasingly important to It’s business strategy in recent quarters, especially since fast commerce’s unit economics failed to become profitable and this cash-intensive vertical was shrunk. According to reports, the B2B division has been collaborating with roughly 30,000 merchants each month. Its logistics network includes a fleet of about 70,000 to 75,000 delivery partners, and it processes about one million orders each month. DMS operated in a number of significant metropolises, including Kolkata, Bangalore, Mumbai, Chennai, Hyderabad, and Pune.
“We are making some org wide changes in restructuring our business starting this quarter, and the DMS business has very capable leadership that’s picking up directly after him (Suri),” Biswas said.
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Business Today stated last week that the corporation is getting ready to conduct another wave of layoffs in order to reduce costs. They notified its staff that their final and complete settlements would be given to them in January. After receiving a $75 million fundraising round in April of this year, the business, which is funded by Reliance and Google, fired 30% of its employees. Additionally, the management of the company opted to close 50% of its dark storefronts nationwide as part of a business model pivot.
The company is currently negotiating with a group of potential and current investors to finalize a $30 million investment round that will act as a lifeline for the business. Reliance Retail and Google, two of its current sponsors, are reportedly planning to take part in the financing.
Reliance Retail is the only largest shareholder in it, holding a 25.8% stake, followed by Google, which holds a roughly 19% stake.
They claimed total income of Rs 67.7 crore in FY22, according to documents filed with the Ministry of Corporate Affairs. The cost to the company was Rs 531.7 crore. Operating income was Rs 54.3 crore, and the total loss was Rs 464 crore.
According to Tracxn statistics, Reliance Retail, Google India, Lightrock, Lightbox, Blume Ventures, and other investors helped Dunzo raise close to $500 million.
What is Dunzo?
Dunzo is a hyperlocal delivery and concierge service application that operates in several cities across India. Founded in 2015 by Kabeer Biswas, Ankur Aggarwal, Dalvir Suri, and Mukund Jha, Dunzo was initially designed to help people with their daily tasks and errands. Over the years, it has evolved into a versatile platform that can cater to a wide range of needs.
Key Features of Dunzo
- Task Management: The core feature of Dunzo is task management. Users can create tasks for almost anything, from ordering groceries and food to sending packages, getting medicines, and even booking appointments. The app’s intuitive interface makes it easy to input your requirements, and Dunzo takes care of the rest.
- Efficient Delivery: Dunzo’s network of delivery partners ensures that your tasks are completed swiftly. Whether it’s delivering your favorite food from a nearby restaurant or picking up a prescription from the pharmacy, Dunzo’s efficiency is remarkable.
- Wide Service Range: Dunzo offers a broad spectrum of services, including grocery shopping, restaurant deliveries, pet supplies, electronic gadgets, and much more. Users can even request unique services like standing in queues, buying event tickets, or getting their car washed.
- Multiple Payment Options: The app allows users to pay for their tasks using various payment methods, including credit/debit cards, digital wallets, and UPI. This flexibility adds to the convenience factor.
- Real-time Tracking: Dunzo provides real-time tracking of your tasks, allowing you to know exactly when your groceries will arrive or when your documents will be delivered.
- Safety Measures: In light of the COVID-19 pandemic, Dunzo has implemented safety measures like contactless deliveries and temperature checks for delivery partners, ensuring the safety of both customers and staff.
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