On Monday, Dunzo, the delivery service, shared that Dalvir Suri, one of its four co-founders, is leaving. The company, which is supported by Reliance Industries but facing financial challenges, also revealed plans to reorganize its operations starting this quarter.
Dalvir Suri became part of the company in May 2015, roughly a year after it started. Eventually, he took charge of the business-to-business division called Dunzo Merchant Services (DMS).
Before he started working at the startup supported by Reliance, Suri held the position of Head of Operations at Cybrilla Technologies, as mentioned on his LinkedIn profile. He earned his Bachelor's degree in Engineering from Sardar Patel Institute of Technology, Mumbai University.
"Dalvir has played a key role in developing all our new business areas at Dunzo... and the DMS division has strong leadership ready to take over," stated CEO and co-founder Kabeer Biswas.
Dunzo is in the final stages of discussions to secure a funding round worth $25 million to $30 million. This funding will increase Reliance Retail's stake in the company from 25.8%, as reported by Moneycontrol last week. Dunzo had postponed the pay for 500 of its 1,000 employees until July 20, affecting their senior leaders the most.
In April of this year, the company secured $75 million (approximately ₹616 crore) in funding but also let go of around 400 employees during the first half of the year as a way to reduce expenses.