Dunzo Start-up

This growth is majorly fueled by the launch of 17 native GenAI language models in India, a 4.6 times surge in GenAI services

Dunzo's rush into quick commerce and search for funds have yet to deliver the goods, leaving it in a fragile state

The ailing startup has heavily cut the scale of its quick-commerce operations to save cash over the past year

Dunzo is looking to raise $35 million in fresh funding

Logistics and delivery firm Dunzo plans to settle dues of former employees in next three months while it is regularising salary for its current employees, sources said. The firm backed by Reliance Retail and Google said that while its co-founder Davlir Suri has decided to leave the company, another co-founder Mukund Jha will continue be part of the strategic leadership team. "In June salary of 85 per cent employees were paid. Salary of current employees for the month of July is pending and rest of month salary has been cleared. The July month salary will also be cleared in some time. Dues of ex-employees will be settled in the next three months," a source, who did not wish to be identified, told PTI. The development comes after Dunzo raised USD 75 million in April, and fired about 300 employees in the first half of this year as part of cost-cutting measures. The company in total has raised around USD 457 million. Another source said that the company has plans to lay off around 150

Dunzo did not say when Suri would leave nor did it name his replacement. Ankur Agarwal and Mukund Jha are the company's other co-founders

$35 mn fundraise may go through within a week

The startup had previously deferred the June and July salaries of over 50 per cent of its workforce of 1,000 to the first week of September

Dunzo, a quick commerce startup backed by Reliance and Google, had earlier told its employees that their June and July salaries would be paid in September

Dunzo's salary deferrals come even as the firm raised $75 million in funding through convertible notes in April this year, indicating its high cash burn rate

Quick commerce firm will provide merchants customer and last-mile logistics delivery support for joining network

Quick-commerce player Dunzo is struggling not only with financial losses but also with keeping its operations afloat

Reliance Retail picked up 25.8% of Dunzo's shares back in January 2022 after investing $240 million into the startup

Sources say this may trigger a fresh round of job cuts

New-age companies like Byju's, Unacademy, social media firm ShareChat, MyGate, and automobile-servicing startup GoMechanic were among the leading names that fired employees in large numbers

In less than a year, 'Dunzo Daily' is growing at a rate of more than 100 per cent month on month and is expected to fulfill more than 200,000 orders per day by June 2022

In a chat with Business Standard's Surajeet Das Gupta, quick commerce player Dunzo's CEO Kabeer Biswas tells about strategic partnership with Reliance Retail and long-term expansion plan. Listen in

Flipkart is followed by Urban Company, Asia's largest home services marketplace and Tata-owned online grocer BigBasket.

The app has lured people with its rapid delivery of items ranging from groceries to parcels in cities

The state of the Indian consumer has been the subject of attention of a number of agencies in recent weeks