On-demand delivery platform Dunzo today said one of its four co-founders Dalvir Suri would be leaving the cash-strapped Reliance Industries-backed startup. The company also announced an organization-wide restructuring starting this quarter.
Dunzo has struggled to reach a financing deal in recent months and has announced at least three layoffs, deferred or reduced salaries for some employees and reduced 50 percent of its dark stores.
The company’s statement did not provide further details on the restructuring. Dunzo will provide details to employees later this week, financial news website Moneycontrol reports. Dunzo did not immediately respond to an email from Reuters seeking comment.
Mr Suri joined the Bengaluru-based company in May 2015, about a year after its inception, and headed its business-to-business unit Dunzo Merchant Services (DMS).
“Dalvir has been instrumental in building every new line of business at Dunzo… and the DMS business has very capable leadership coming right after him,” CEO and co-founder Kabeer Biswas said in a statement.
Dunzo did not say when Mr. Suri would leave or name his replacement. Ankur Agarwal and Mukund Jha are the other co-founders of the company.
Dunzo is in advanced talks to close a $25 million to $30 million funding round that will increase Reliance Retail’s 25.8 percent stake in the company, Moneycontrol reported last week.