{"id":46627,"date":"2023-10-02T12:52:03","date_gmt":"2023-10-02T07:22:03","guid":{"rendered":"http:\/\/officechai.com\/?p=46627"},"modified":"2023-10-02T12:52:05","modified_gmt":"2023-10-02T07:22:05","slug":"dunzo-cofounder-dalvir-suri-quits-amidst-funding-crunch","status":"publish","type":"post","link":"https:\/\/officechai.com\/startups\/dunzo-cofounder-dalvir-suri-quits-amidst-funding-crunch\/","title":{"rendered":"Dunzo Cofounder Dalvir Suri Quits Amidst Funding Crunch"},"content":{"rendered":"\n<p>Crisis-hit Dunzo&#8217;s fortunes keep going from bad to worse.<\/p>\n\n\n\n<p>Dunzo&#8217;s co-founder Dalvir Suri has quit the firm amidst a cash crunch at the hyperlocal delivery startup. Dunzo had been founded by Kabeer Biswas, Ankur Aggarwal, Dalvir Suri and Mukund Jha. CEO Kabeer Biswas holds 3.6% equity at the firm, while the other cofounders, including Dalvir Suri, only held ESOPs.<\/p>\n\n\n\n<p>\u201cAs many of you are aware, Dalvir (Suri) has been taking some time off over the last few weeks, and will be moving on from Dunzo,\u201d Dunzo CEO Kabeer Biswas <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/dalvir-suri-dunzo-co-founder-to-exit-cash-strapped-startup-11462331.html\">told <\/a>employees in an email.\u00a0\u201cDalvir (Suri) 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 &#8211; and with six plus years spent building Dunzo, he plans to move forward to pursuing new journeys,\u201d the email added.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"640\" height=\"336\" src=\"https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2023\/10\/Collage-Maker-02-Oct-2023-12-15-PM-24.jpg?resize=640%2C336\" alt=\"dunzo dalvir suri\" class=\"wp-image-46628\" srcset=\"https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2023\/10\/Collage-Maker-02-Oct-2023-12-15-PM-24.jpg?resize=1024%2C538&amp;ssl=1 1024w, https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2023\/10\/Collage-Maker-02-Oct-2023-12-15-PM-24.jpg?resize=300%2C158&amp;ssl=1 300w, https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2023\/10\/Collage-Maker-02-Oct-2023-12-15-PM-24.jpg?resize=768%2C403&amp;ssl=1 768w, https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2023\/10\/Collage-Maker-02-Oct-2023-12-15-PM-24.jpg?w=1200&amp;ssl=1 1200w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/figure>\n\n\n\n<p>Dalvir Suri&#8217;s departure comes at a time when Dunzo has been staring at the brink. Dunzo had been\u00a0<a href=\"https:\/\/officechai.com\/startups\/dunzo-pays-only-50-salary-to-employees-amid-fund-crunch\/\">unable to pay<\/a>\u00a0its June salaries to employees, which had been the first public sign of the troubles at the hyperlocal startup. The company had first said it\u00a0<a href=\"https:\/\/officechai.com\/startups\/dunzo-now-delays-june-salaries-to-september-begins-fresh-round-of-layoffs\/\">would pay<\/a>\u00a0the salaries by September, and then\u00a0<a href=\"https:\/\/officechai.com\/startups\/dunzo-delays-june-salaries-again-says-itll-pay-them-in-october\/\">said\u00a0<\/a>it would pay them in October. Dunzo has now laid off hundreds of  employees, and told them they will <a href=\"https:\/\/officechai.com\/startups\/dunzo-conducts-fresh-round-of-layoffs-to-pay-june-july-salaries-only-by-february-next-year\/\">receive <\/a>their June salaries only by February next year. Dunzo has also been sent <a href=\"https:\/\/officechai.com\/startups\/7-companies-dunzo-legal-notices-over-pending-dues\/\">notices <\/a>by its vendors over being unable to clear dues.<\/p>\n\n\n\n<p>For its part, Dunzo has been doing its bit to cut costs. It has laid off hundreds of employees, and shut down nearly half of its dark stores. It&#8217;s also said it&#8217;ll move to a smaller office. Dunzo also reportedly aims to cut down its workforce from more than 1000 earlier in the year to just 200, which possibly means that there isn&#8217;t enough room for 4 co-founders.<\/p>\n\n\n\n<p>Amidst all this, there might still be a ray of hope. There have been reports that Dunzo could be close to raising $30 million from its existing investors, which can help it stabilize its operations and prevent a complete implosion. It remains to be seen if this funding round actually materializes, but one of Dunzo&#8217;s four co-founders has already checked himself out of the ride. <\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crisis-hit Dunzo&#8217;s fortunes keep going from bad to worse. Dunzo&#8217;s co-founder Dalvir Suri has quit the firm amidst a cash crunch at the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":46628,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[254],"tags":[],"class_list":["post-46627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dunzo Cofounder Dalvir Suri Quits Amidst Funding Crunch<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/officechai.com\/startups\/dunzo-cofounder-dalvir-suri-quits-amidst-funding-crunch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dunzo Cofounder Dalvir Suri Quits Amidst Funding Crunch\" \/>\n<meta property=\"og:description\" content=\"Crisis-hit Dunzo&#8217;s fortunes keep going from bad to worse. 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