In a statement to CNBC-TV18, CEO Kabeer Biswas acknowledged Dalvir Suri’s pivotal role in Dunzo’s journey, highlighting his plan to embark on new endeavors after contributing significantly for over six years. Furthermore, Biswas mentioned forthcoming organizational restructuring while assuring capable leadership to oversee Dunzo Merchant Services (DMS), its B2B vertical.

Reports suggest Mukund Jha, the Chief Technology Officer, is also leaving, making him the second co-founder departure. However, Dunzo has refuted this claim, asserting Jha’s continued integral role in guiding Dunzo’s strategic direction.

In parallel, reliable sources have confirmed that Reliance Retail nominees have resigned from Dunzo’s board. This follows earlier departures, including Suri, Vaidhehi Ravindran from Lightrock, and Rajendra Kamath and Ashwin Khasgiwala from Reliance Retail.

Currently, only CEO Kabeer Biswas, Siddharth Talwar from Lightbox, and Hongjim Kim from STIC Investments remain on Dunzo’s board. With two co-founder exits, only Biswas and Ankur Aggarwal retain their positions within the company.

Contrary to certain reports, sources close to Dunzo assert that all founders have equity in the startup. These developments arise as Dunzo strives to secure an additional $20 million from Reliance Retail amid its financial challenges.

Bengaluru-based Dunzo reported a net loss of Rs 464 crore in FY22, doubling from the previous year. The surge in operational costs, particularly in Dunzo Daily orders, contributed to this loss. EBITDA loss in June reached Rs 176 crore, while the company is yet to disclose FY23 financials.

Dunzo had previously reduced its workforce by 30 percent, resulting in approximately 300 layoffs in April. Additionally, the company had deferred employee salaries starting from June.

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