Reliance-backed delivery platform Dunzo is undergoing a major revamp as it faces financial challenges.
One of its co-founders, Dalvir Suri, has announced his departure.
This move comes as part of a company-wide restructuring the firm will implement from this quarter.
Over the past few months, Dunzo has struggled to secure funding, leading to several layoffs.
It deferred or reduced salaries for certain employees and trimmed 50 percent in its dark store operations.
While its official statement had no specific details, it promised to share more information with employees later this week.
Dalvir Suri, who joined Dunzo in May 2015, played a pivotal role in the company’s growth.
He led the business-to-business unit, Dunzo Merchant Services (DMS).
CEO and co-founder Kabeer Biswas said: “Dalvir has been instrumental in building out every new line of business at Dunzo…. and the DMS business has very capable leadership that’s picking up directly after him.”
Despite these challenges, Dunzo is seeking a funding round of $25 million to $30 million.
This funding is expected to increase Reliance Retail’s stake in the company by 25.8 percent.
However, the company has not disclosed the timeline for Suri’s departure or his successor’s name.
Co-founders Ankur Agarwal and Mukund Jha remain with the company.