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Dunzo, backed by Reliance Retail, has laid off 75% of its workforce, cutting 150 employees to reduce costs. Struggling to secure promised funding, the company now seeks to diversify its revenue streams and stabilize its finances.

Dunzo Lays Off 150 Employees: 75% Of Workforce Cut In A Major Downsizing

Dunzo, backed by Reliance Retail, has laid off 75% of its workforce, cutting 150 employees to reduce costs. Struggling to secure promised funding, the company now seeks to diversify its revenue streams and stabilize its finances.

Dunzo, an online delivery platform laid off 75% of its workforce. After laying off 150 employees, company has only 50 employees to carry on the business.
Dunzo, which has been a household name in cities like Bengaluru, Delhi, Gurugram, Mumbai, and Chennai, has been struggling to manage its finances.
Backed by Reliance Retail, the company has been looking for ways to cut costs and stay afloat.
According to Financial express, Dunzo had informed its employees in july that it was close to securing a $22-25 million deal that would help stabilize the company.
But as the days passed, the funding never materialized, leaving the company with no choice but to downsize drastically.
Now, the company is looking to diversify its revenue streams beyond just merchant services in a bid to stay relevant in the market. This move could either save the company or push it further into the abyss.
So, what does this mean for Dunzo&rsquo;s future? Can the company bounce back from this, or is this the beginning of the end?
We'll be keeping a close eye on how this unfolds, so make sure to subscribe and hit the notification bell so you don't miss our next update.

Facing financial woes, Dunzo aims to close down 50% of its dark stores, having already shut down 20-30% of these stores in Delhi-NCR and Hyderabad in 2022

Dunzo grapples with cash crunch, employees miss November paychecks

Facing financial woes, Dunzo aims to close down 50% of its dark stores, having already shut down 20-30% of these stores in Delhi-NCR and Hyderabad in 2022

Dunzo, backed by Google, faces financial strain, reportedly delaying employee salaries for November amid cash crunch problems, as per the Hindu Business Line. Layoffs and Unpaid Dues:
The hyperlocal e-commerce platform has cut over 30% of its workforce in recent months, reducing its staff from over 1,000 employees at the start of 2023. The company has undergone three rounds of layoffs, axing about 300 employees in the first half of the year to curb expenses.
Additionally, Dunzo has yet to settle dues for its existing employees, as reported by the Financial Daily. The startup has also deferred final payments to those laid off, planning to clear their dues over the next three months, as stated by PTI agency in October.
Dark Store Closures and Financial Woes:&nbsp;
Facing financial woes, Dunzo aims to close down 50% of its dark stores, having already shut down 20-30% of these stores in Delhi-NCR and Hyderabad in 2022.
The company's financial troubles coincide with its collaboration with OneTap, a revenue financing firm, established in August. Co-founder Dalvir Suri reportedly exited the company in October. Cost-Cutting Initiatives:&nbsp;
Earlier in April, Dunzo closed a $75-million financing round via convertible notes, having previously raised $240 million in equity funding in January 2022. Notably, Reliance Retail holds a 25.8% stake in Dunzo, while Google possesses around 20%.
Despite raising approximately $457.6 million across 19 funding rounds, Dunzo's auditor, Deloitte, expressed doubts about its sustainability, citing a significant increase in net losses to ₹1,802 crore in FY23, a 288% surge from the previous year.
To reduce costs, Dunzo migrated employee accounts from Google to Zoho workspace, aiming for at least a 33% cost reduction. Earlier, the company had also relinquished its Bengaluru office space.

The move comes after co-founder Davlir Suri decided to leave the company

Dunzo financial crisis: Initiates restructuring, aims to clear ex-employee dues within 3 months

<h2>The move comes after co-founder Davlir Suri decided to leave the company</h2>

Dunzo, the logistics and delivery startup backed by Reliance Retail and Google, is taking steps to address its financial situation. The company will initiate a restructuring plan. It also intends to settle outstanding dues to former employees within the next three months and regularise salaries for current employees, according to undisclosed sources, reported PTI.&nbsp;
In June, Dunzo managed to pay the salaries of 85 percent of its employees. However, salaries for current employees for the month of July are still pending, though the rest of the month's salaries have been cleared.&nbsp;
Also read/watch: <a href="https://www.editorji.com/business-news/it-companies-push-employees-to-return-to-office-five-days-in-a-week-1696320483144">IT companies push employees to return to office five days in a week</a>
These developments follow Dunzo's successful fundraising of USD 75 million in April, which was accompanied by the firing of approximately 300 employees in the first half of the year as part of cost-cutting measures. In total, the company has raised approximately USD 457 million.
While there have been reports suggesting that the company may lay off another 150-200 employees, this information has not been officially confirmed.
Co-founder Dalvir Suri's exit&nbsp;
Co-founder Dalvir Suri has decided to leave the company, but Dunzo denied reports of co-founder Mukund Jha's departure. According to Dunzo co-founder and CEO Kabeer Biswas, Suri played a crucial role in building various aspects of Dunzo's business and has decided to take a break to explore new opportunities. As for Mukund Jha, Dunzo emphasized his continued role as an integral part of the company's leadership team, guiding its future direction and strategic planning amid ongoing organizational restructuring.

Dunzo, backed by Reliance and Google, is cutting costs through layoffs. Employees will receive settlements in January. A $25-30 million funding round is considered. In FY22, Dunzo reported ₹67.7 crore revenue and ₹531.7 crore expenses

Layoffs 2023: Reliance and Google-backed Dunzo initiates fresh round of layoffs to reduce costs

Dunzo, backed by Reliance and Google, is cutting costs through layoffs. Employees will receive settlements in January. A $25-30 million funding round is considered. In FY22, Dunzo reported ₹67.7 crore revenue and ₹531.7 crore expenses

Dunzo, the quick commerce platform backed by Reliance and Google, is once again implementing a fresh round of layoffs in an effort to trim costs, as per a Business Today report.
The company has informed affected employees that they will receive their full and final settlements in January. The exact number of employees impacted by these layoffs remains undisclosed, but the report suggests that multiple teams within the company have been affected.
An employee from Dunzo's engineering team revealed to bt,"The company has said that the full and final settlement will take place in January." Another employee confirmed this development and added that affected employees have the option to either serve their notice period in October or skip it altogether. Regardless of the choice made, the full and final settlement will include pending salaries from the past months, which have been deferred since June, along with a 15-day severance package.
Dunzo had previously laid off 30% of its workforce earlier this year after securing $75 million in funding. Additionally, the company had announced plans to pivot its business model and shutter 50% of its dark stores across the country.
Recent reports indicate that Dunzo is in advanced discussions to secure a funding round of $25-30 million, with key investors such as Reliance Retail, Google, and Lightrock participating. Reliance Retail already holds a significant 25.8% stake in Dunzo, making it the largest shareholder.
In fiscal year 2022, Dunzo reported a total revenue of ₹67.7 crore, with expenses amounting to ₹531.7 crore. The company's operating revenue was ₹54.3 crore, resulting in a consolidated loss of ₹464 crore. Employee benefit expenses emerged as the biggest cost driver at ₹138 crore, followed by advertising and promotional expenses, which surged nearly sixfold compared to the previous fiscal year.
Founded in 2014, Dunzo has raised close to $500 million from a consortium of investors, with Reliance Retail and Google holding the largest stakes at 25.8% and approximately 19%, respectively, in the quick commerce company. Also Watch: <a href="https://www.editorji.com/business-news/dunzo-faces-salary-delays-reschedules-payments-to-october-1693916991458">Dunzo faces salary delays; Reschedules payments to October</a>

Dunzo's investors will invest on the company on a pro-rata basis, except for Reliance Retail which will invest on a super pro-rata basis and increase its stake in Dunzo

Cash-strapped Dunzo may secure $25-$30 million capital

Dunzo's investors will invest on the company on a pro-rata basis, except for Reliance Retail which will invest on a super pro-rata basis and increase its stake in Dunzo

Quick-Commerce company, Dunzo is in advanced stages of closing $25-30 million deal, reported MoneyControl. As per the report, key investors including Reliance Retail, Google, Lightrock are participating in the round.&nbsp;
The investors will pump in money on a pro-rata basis which means investment will be done based on the investors' existing stake in the company. As per Moneyconytrol, Reliance Retail will invest on a super pro-rata basis which means it will increase its ownership in Dunzo, while the shareholding pattern for other investors will remain the same.
Also Read: <a href="https://www.editorji.com/business-news/dunzo-faces-salary-delays-reschedules-payments-to-october-1693916991458">Dunzo faces salary delays; Reschedules payments to October</a>
Reliance Retail is already the largest stakeholder holding, 25.8% stake in the company. Google India which is the second-largest investor in Dunzo holds about 19% stake. Lightbox, Lightrock, Blume Ventures are other prominent backers of the quick-commerce company.
MoneyControl further reported that this fund will be used to pay salaries and help Dunzo to meet its other capital requirements.&nbsp;
This comes as a breather to Dunzo which has been financially struggling so much as it was even prepared to give up its office space to save costs

Dunzo, backed by Reliance and Google, delays salaries due to fundraising challenges, adopts batch payments. Legal claims and layoffs add to financial pressures

Dunzo faces salary delays; Reschedules payments to October

Dunzo, backed by Reliance and Google, delays salaries due to fundraising challenges, adopts batch payments. Legal claims and layoffs add to financial pressures

Bengaluru-based quick grocery delivery start-up, Dunzo, backed by Reliance and Google, is experiencing delays in salary disbursements for its employees, attributing the setback to ongoing fundraising difficulties. To manage the situation, the company has chosen to implement batch payments.
Initially, Dunzo had assured its employees that August salaries would be disbursed starting on September 4. However, it recently communicated to its workforce that these payments would be staggered due to "certain procedural requirements." This adjustment is expected to necessitate an additional day or two for completion.
An email addressed to the employees and reported by Moneycontrol provided further insights into the situation. It conveyed, "Team members whose salary has been processed will receive an email confirmation. Rest assured you will receive your August 2023 salary within this week without fail."
Further complicating matters, Dunzo has announced a postponement of salaries to the first week of October, citing these same procedural requirements. In an attempt to reassure its employees, Dunzo has reiterated its commitment to disbursing the August 2023 salaries within the week and issued apologies for the delay.
The start-up had previously committed to an interest payment of 12% per annum on the salary component that had been withheld since June. Reports circulating in the market have suggested that Dunzo was actively engaged in advanced discussions to secure funding in the range of $80-100 million through a series G funding round, with participation from existing investors such as Lightbox and Lightrock.
Dunzo's financial struggles have escalated to a critical level, as it faces legal notices from more than seven companies and vendors, collectively amounting to claims exceeding ₹11 crore. In response to these mounting financial pressures, Dunzo has been forced to undertake three rounds of layoffs over the past year, resulting in a reduction of over 500 jobs. These measures, while difficult, have been adopted as cost-cutting measures, while the company awaits the anticipated influx of funds.

Dunzo, backed by Reliance and Google, faces employee salary delays, pushing June and July payments to October

Dunzo delays employee salary payments again; pushes payment to October 

Dunzo, backed by Reliance and Google, faces employee salary delays, pushing June and July payments to October

Dunzo a prominent quick-commerce startup backed by Reliance and Google, is again facing salary payment delays for its employees. Mint reported through sources that the company has deferred salary payments for the months of June and July to October, creating concern among its workforce.
The move comes as Dunzo grapples with financial constraints and seeks to secure a substantial influx of funds. Recent media reports indicate that the startup aims to raise between $75 million and $150 million in capital from both new and existing investors. This capital injection is seen as crucial for the company's operational sustainability and growth.
On August 30, the company informed its employees about the decision to postpone the salary disbursements by an additional month. The salary for the month of August will be paid as per schedule in September, while July's and June's salaries will now be remitted in October. Mint reported that approximately 15% of Dunzo's employees have been awaiting their June salaries, which will also be included in the October payout.
Dunzo initially assured its workforce that salaries for June, July, and August would be settled by September 4. To compensate for the delay, the company has committed to adding a 12% interest component to the pending salaries.
In an email to its employees, Dunzo expressed optimism about progress in its ongoing fundraising efforts. The company anticipates the funding round to conclude by September.&nbsp;

Dunzo's dark stores in Bengaluru's Indiranagar, Richmond Town, HSR Layout halt operations as workers refuse to come back for work without any clarification on July salaries

Dunzo financial crisis: Dark stores in Bengaluru halt operations amid workers' salary delay

Dunzo's dark stores in Bengaluru's Indiranagar, Richmond Town, HSR Layout halt operations as workers refuse to come back for work without any clarification on July salaries

Cash-strapped Dunzo is facing yet another distress. This time the company's dark stores workers in Bengaluru have refused to come back to work as their July salaries are delayed.&nbsp;&nbsp;
As per Business Standard, its dark stores in the city&rsquo;s Indiranagar, Richmond Town, and HSR Layout halted their operations on Wednesday. Its two stores in Kormangala and ITI Layout are already unserviceable since Monday.
Also Read: <a href="https://www.editorji.com/business-news/dunzo-defers-paying-out-june-salary-once-again-cites-cash-crunch-1689765483169">Dunzo defers paying out June salary once again, cites cash crunch</a>
The company reportedly operated around 250 dark stores earlier and currently has only 7 stores in Bengaluru. As per YourStory, Dunzo&rsquo;s dark stores have about 70 off-roll workers who earn up to Rs 20,000 every month and are mainly involved in packing groceries and handing them to assigned delivery partners.&nbsp;
One of the employees told YourStory that the workers are coming together to halt the operations until clarification regarding salary comes while adding that Dunzo had only verbally promised that Salaries would be paid soon.
Dunzo spokesperson also told YourStory that the company is planning to become 100% operational soon. The company has brought in hybrid system model comprising of dark stores and partner stores to curb the expenses.&nbsp;
The company had deferred the June and July salaries of over 50% of its workforce of 1,000 to the first week of September. It had also capped employee salaries at Rs. 75,000, irrespective of their pay package. This comes despite the firm raising $75 million through convertible notes in April this year.
&nbsp;
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As Dunzo is clutched by financial crisis, the company has assured 12% annual interest on deferred salary which will be applicable for 2 months from July 4 to September 4

Dunzo financial crisis: Assures 12% annual interest on deferred salaries, due clearance by September 4

As Dunzo is clutched by financial crisis, the company has assured 12% annual interest on deferred salary which will be applicable for 2 months from July 4 to September 4

Cash strapped Dunzo has assured its employees a 12% annual interest on deferred salaries and that it would clear the dues by September 4, reported Moneycontrol.&nbsp;
This comes after Dunzo announced that the company would cap the salaries to Rs 75,000 from June irrespective of an employee's pay package. The company had also announced that it would defer the salary for about 500 employees.
Also Read: <a href="https://www.editorji.com/business-news/dunzo-crisis-receives-legal-notices-from-7-firms-11-4-cr-dues-report-1690286215800">Dunzo crisis: Receives legal notices from 7 firms, ₹11.4-cr dues: Report</a>
Earlier, it had said that the dues wil be cleared by July 20. However, the company in an email pushed the date to September 4.
&ldquo;Thank you for your patience and continued support. We understand the inconvenience this (delay in salaries) has caused and want to ensure that we provide the possible support for the delay,&rdquo; Dunzo&rsquo;s payroll team said in an email to employees on July 27.
Also Read: <a href="https://www.editorji.com/business-news/dunzo-defers-paying-out-june-salary-once-again-cites-cash-crunch-1689765483169">Dunzo defers paying out June salary once again, cites cash crunch</a>
The email also said that an annual interest of 12% would be paid for two months from July 4 to September 4 to all employees who haven't received the salary. An interest rate of 12% annually will be 1% per month.
As per Moneycontrol, certain employees still remain uncertain over Dunzo's payment plans because the company is yet to clear vendor dues, deposit the tax deducted at source (TDS) amounts since October 2022 and has a history of missing deadlines, as highlighted in a few legal notices.
Meanwhile, Dunzo has said that over 95% of all the TDS payment are made and the remaining will also be cleared.

The vendors include Google India (to which Dunzo owes the most at ₹3.13 crore), Nilenso, Clover Ventures, Facebook India Online Services, Cupshup, Koo and Glance

Dunzo crisis: receives legal notices from 7 firms, ₹11.4-cr dues: Report

The vendors include Google India (to which Dunzo owes the most at ₹3.13 crore), Nilenso, Clover Ventures, Facebook India Online Services, Cupshup, Koo and Glance

Cash-strapped Dunzo continues to receive legal notices from its vendors asking the company to pay up dues.&nbsp; According to Moneycontrol, Dunzo has received legal notices from seven vendors including Google India, Nilenso, Clover Ventures, Facebook India Online Services Private Limited (FBI), Cupshup, Koo and Glance since March. The quick-commerce startup owes around INR 11.4 Cr to these companies.&nbsp;
The development comes at a time when Dunzo, once a leading player in India&rsquo;s quick-commerce space, is struggling to raise fresh funds.&nbsp;
Dunzo defers employee salaries for June, July till September 
Bengaluru-based quick commerce startup Dunzo has deferred salary payouts for its employees again, according to sources.
Also read/watch| <a href="https://www.editorji.com/business-news/cage-fight-between-elon-musk-mark-zuckerberg-fans-worried-about-musk-as-zuckerberg-earns-blue-belt-1690278741882">Cage fight between Elon Musk &amp; Mark Zuckerberg: Fans worried about Musk as Zuckerberg earns blue belt</a>
An internal mail was shared with employees in which the cash-strapped logistics firm, previously backed by Google and Reliance Retail, has stated that the remaining salary for June and July would be paid with the August salary payout, in the first week of September, sources said.
The company did not immediately comment on the development.
Dunzo had previously delayed salaries of half of its 1000-strong workforce till July 20, impacting their top management the most.
In April this year, the company had raised USD 75 million (around Rs 616 crore) and also fired about 400 employees in the first half of this year as part of cost-cutting measures.

Google, Dunzo’s second-largest backer, has also issued a legal notice to Dunzo asking the startup to clear unpaid dues

More trouble for Dunzo: Legal notices by Facebook, Nilenso over unpaid dues

Google, Dunzo&rsquo;s second-largest backer, has also issued a legal notice to Dunzo asking the startup to clear unpaid dues

Hours after Dunzo announced its plans for another round of layoffs, there is another issue hovering over the popular quick-commerce player.&nbsp;
According to a moneycontrol report, Dunzo has been served a legal notice by Facebook India Online Services Private Limited ("FBI") and Nilenso, a software consultancy firm, based out of Bengaluru, over non-payment of dues.&nbsp;
Report further adds that Dunzo has made part payments to Facebook but still owes about Rs 1.5 crore to the tech giant. Dunzo had availed Facebook&rsquo;s advertising services but did not pay the entire amount for the same.
Not only Facebook, Nilenso, which provides software engineers on contract, has also sent a demand notice under the Insolvency and Bankruptcy Code (IBC) to Dunzo for the payment of outstanding dues.
The Bengaluru-based cooperative is still owed around ₹2.5 crore, after paying roughly ₹1 crore from its total outstanding.&nbsp;
These developments come at a time when Google, Dunzo&rsquo;s second-largest backer, has also issued a legal notice to Dunzo asking the startup to clear unpaid dues.&nbsp;
Dunzo Layoff In a bid to combat mounting financial troubles, Dunzo, the popular quick-commerce player, has announced plans for yet another round of layoffs, as revealed by the company's co-founder and CTO, Mukund Jha, during an all-hands meeting on July 19.
This will mark the third time within a span of seven months that the company has resorted to laying off employees to navigate its cashflow issues. The dire situation has put the startup's back against the wall, forcing it to take drastic measures.
According to estimations made by senior employees, the upcoming layoffs are expected to impact approximately 20% of Dunzo's workforce, equivalent to around 200 employees. Already, in two previous rounds of layoffs, the company had let go of 380 employees.

Quick-commerce player Dunzo to undergo third round of layoffs, affecting around 20% of workforce. Deferred June salaries and cashflow issues exacerbate financial woes

Layoff 2023: Dunzo undertakes third round of layoffs as financial woes escalate

Quick-commerce player Dunzo to undergo third round of layoffs, affecting around 20% of workforce. Deferred June salaries and cashflow issues exacerbate financial woes

In a bid to combat mounting financial troubles, Dunzo, the popular quick-commerce player, has announced plans for yet another round of layoffs, as revealed by the company's co-founder and CTO, Mukund Jha, during an all-hands meeting on July 19.
This will mark the third time within a span of seven months that the company has resorted to laying off employees to navigate its cashflow issues. The dire situation has put the startup's back against the wall, forcing it to take drastic measures.
According to estimations made by senior employees, the upcoming layoffs are expected to impact approximately 20% of Dunzo's workforce, equivalent to around 200 employees. Already, in two previous rounds of layoffs, the company had let go of 380 employees.
During the meeting, Jha asserted that Dunzo currently has a runway of approximately 18 months and boasts a healthy bank balance of $40 million. However, the startup is entangled in debt obligations, preventing it from accessing these funds to address its financial challenges.
 The news of the impending layoffs comes on the heels of an email sent out to Dunzo employees just hours before the all-hands meeting. The email informed the workforce about the deferred salaries for June, as well as outstanding amounts due for July and August. The deferred salaries will now be processed on September 4, a substantial delay compared to the original deadline of July 20.
In June, the company had already deferred salaries for nearly 50 percent of its workforce, affecting approximately 500 employees. The promise was that these dues would be cleared by July 20. In response to the cash crunch, Dunzo had also imposed a salary cap of Rs 75,000 for June, regardless of the employee's actual salary. Employees falling below the threshold were still assured full payment.
The repeated deferral of salaries and the constant rounds of layoffs have raised concerns among Dunzo employees about the company's stability and future prospects. The situation remains challenging for both the management and the workforce, as they grapple with the need to restore financial stability while ensuring the well-being of those affected by the layoffs.
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Dunzo, the quick-commerce player, has missed its deadline for paying the remaining portion of staff salaries, citing a cash crunch. As the company seeks to raise funds and address cash flow issues

Dunzo defers paying out June salary once again, cites cash crunch

Dunzo, the quick-commerce player, has missed its deadline for paying the remaining portion of staff salaries, citing a cash crunch. As the company seeks to raise funds and address cash flow issues

Dunzo employees have been left in the lurch once again. The popular quick-commerce player, has deferred the payment of June salaries for a second time.
Earlier, the company had assured employees that the June salaries would be paid by the 20th of July. However, today, one day before the deadline, employees received an email saying that salaries would be further delayed until late August or early September, reported Money Control.
Earlier, Dunzo had deferred the June salaries for approximately 500 employees, which accounted for 50% of its entire workforce.
The company had assured them that all pending dues would be cleared by July 20. However, due to ongoing efforts to raise additional funds and address cash flow issues, Dunzo has had to extend the deadline further.
To improve its financial health, Dunzo also implemented a salary cap of ₹75,000 per month for all employees, regardless of their previous pay package.
While this move was intended to alleviate the company's financial strain, it has inevitably impacted the affected employees.
In light of the missed deadline, the payroll team sent an email to the employees, notifying them about the delay on July 19.
The email stated, "For those team members who were expecting the balance payouts of their June salary during this week, we regret to inform you that this has been delayed. The pending salaries for June will now be paid on September 4th, 2023. Additionally, the July salary for all team members will be paid only on September 4th along with the August salary."
Dunzo's current financial situation highlights the challenges faced by many startups in the competitive quick-commerce industry. The company is actively engaged in securing investments and resolving its cash flow issues to ensure its operations continue smoothly.

Dunzo, facing a cash crunch, capped salaries at Rs 75k/month, deferred payments for 50% of staff, and all dues would be cleared by July 20

Dunzo caps salaries at ₹75k for June amid cash crunch

Dunzo, facing a cash crunch, capped salaries at ₹75k/month, deferred payments for 50% of staff, and all dues would be cleared by July 20

Dunzo, the quick-commerce player capped its employees' montly salary at ₹75,000 for the month of June as per a Moneycontrol report. This amid a severe cash crunch that the start up is facing.&nbsp;&nbsp; This means that even those who have a higher salary package will receive only ₹75,000. However, those earning below the cap would receive their full salary.&nbsp;
This development comes after reports that the startup had deferred June salaries for approximately 500 employees, which accounted for about 50% of its workforce. Kabeer Biswas, the co-founder and CEO of Dunzo, reassured the employees that the cap was only applicable for June and that all dues would be cleared by July 20.
While the salary deferrals affected the entire workforce, senior employees were hit the hardest. According to Moneycontrol sources, around 60-65% of the employees received their full salaries, while the remaining 35-40% received only ₹75,000 as their June salary.
With the situation uncertain for Dunzo, the recent actions taken by Dunzo could potentially lead to further layoffs and voluntary exits. Earlier this year, the Bengaluru-based startup had already terminated around 380 employees in two rounds of layoffs.
In addition to the financial challenges, Dunzo has also faced strategic changes. Supported by Google and Reliance Retail, the hyperlocal fast commerce startup recently decided to close half of its nationwide network of dark stores and made alterations to its business model after a town hall meeting with management. In April, the company fired 30% of its staff following a substantial $75 million fundraising round.
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Online delivery platform Dunzo has delayed 50% of salaries after it secured $75 million through convertible notes in April.

Google Reliance backed Dunzo delays 50% salary of staff this month

 Dunzo delays 50% salary this month

<h3>Online delivery platform Dunzo has delayed 50% of salaries after it secured $75 million through convertible notes in April</h3>

Dunzo, a startup that specialises in hyperlocal fast commerce and is supported by Google and Reliance Retail, has reportedly postponed 50% of salaries for managers and above.
&ldquo;All employees manager grade and above have only received 50% of the salary of June. Rest company says they will pay it later," the source told Business Today.
After obtaining a substantial $75 million fundraising round from investors like Reliance Retail and Google, the rapid commerce startup made the decision to fire 30% of staff in April of this year.
Following the investment announcement, the management of the company held a town hall meeting where they discussed a change in the business model. The corporation also made the decision to close half of its nationwide network of dark stores as part of this strategic transition.
Dunzo had laid off 3% of its staff in January as a cost-cutting measure. In FY2022, the company faced losses of ₹464 crore which was twice the losses faced in the year before that.

Online delivery platform Dunzo has secured $75 million through convertible notes. Meanwhile, facing heavy losses, the company has also laid off about 30% of its staff in another round of job cuts. 

Dunzo layoff: Secures $75 million funding, cuts 30% staff

Online delivery platform Dunzo has secured $75 million through convertible notes. Meanwhile, facing heavy losses, the company has also laid off about 30% of its staff in another round of job cuts.&nbsp;

Online delivery platform Dunzo has secured $75 million funding through convertible notes and is laying off about 30% of its staff as it plans a revamp of its business model, the Economic Times reported.&nbsp;
As per Business Today, the current round of layoffs has impacted engineering roles at the company. Dunzo founder and CEO Kabeer Biswas announced that the layoff that will affect over 300 workers, is part of a rejig.&nbsp;
According to Economic Times, key backers Reliance Retail and Alphabet Inc have added about $50 million of the funding, with other existing investors putting in the rest. The newspaper reported that, under the new business model, the company will cut about 50% of its dark stores and run only those that can be profitable or are nearing that threshold. Dunzo is also looking to partner with supermarkets and other merchants.
Dunzo had laid off 3% of its staff in January as a cost cutting measure. In FY2022, the company faced losses of Rs 464 crore which was twice the losses faced in the year before that.&nbsp;

In what can be described as a ROFL(hilarious) moment, a Swiggy delivery agent in Bengaluru outsourced his delivery order to Dunzo.
Dunzo is an on-demand parcel delivery service which delivers various items from one point to another.
A Twitter user shared an image showing conversation with his friend about how a Swiggy delivery agent Dunzo-ed the food order assigned to him for delivery.
"He was too lazy to come deliver it here so he Dunzo-ed it to me," mentioned one of the messages in the screenshot.
While another message described how the customer even got a call from the Swiggy agent about giving him 5 star rating.
Netizens were quick to jump in and comment on the incident with many terming it as 'Peak Bengaluru' behaviour.

'Peak Bengaluru': netizens bemused as Swiggy agent outsources his delivery to Dunzo

A Twitter user shared an image showing conversation with his friend about how a Swiggy delivery agent Dunzo-ed the food order assigned to him for delivery.

In what can be described as a ROFL&nbsp;moment, a Swiggy delivery agent in Bengaluru outsourced his delivery order to Dunzo.
Dunzo is an on-demand parcel delivery service which delivers various items from one point to another.
A Twitter user shared an image showing conversation with his friend about how a Swiggy delivery agent Dunzo-ed the food order assigned to him for delivery.
ALSO WATCH:&nbsp;<a href="https://www.editorji.com/business-news/zomato-swiggy-in-trouble-cci-orders-probe-here-s-why-1649126456076">Zomato, Swiggy in trouble? CCI orders probe; here's why</a>
"He was too lazy to come deliver it here so he Dunzo-ed it to me," mentioned one of the messages in the screenshot.
While another message described how the customer even got a call from the Swiggy agent about giving him 5 star rating.
Netizens were quick to jump in and comment on the incident with many terming it as 'Peak Bengaluru' behaviour.

Tata&nbsp;Groups's&nbsp;appetite for startup shopping did not end with&nbsp;BigBasket, 1mg &amp; CureFit&nbsp;reports indicate the salt to software conglomerate is now looking at scooping up hyperlocal&nbsp;delivery start up Dunzo.
As per reports in Deal Street the&nbsp; potential deal may value the six-year-old company at $150-200 million.&nbsp;Backed by Google, Duzno&nbsp;is a tech platform for essentials and groceries which has been a big push in growth due to the pandemic with a 300% jump in medicine and grocery sales in the last quarter itself.&nbsp;Duzno has also been making headlines as it piloting a project to conduct experimental drone delivery&nbsp;flights for the 'Medicine from the Sky Project'.Dunzo was launched in 2015 by Kabeer Biswas, Ankur Agarwal, Dalvir Suri and Mukund Jha.

Dunzo is the next startup on Tata's shopping list

Tata's&nbsp;startup&nbsp;shopping spree continues, this is the next business on the buy list..

This is the next startup on Tata's shopping list

Tata&nbsp;Groups's&nbsp;appetite for startup shopping did not end with&nbsp;BigBasket, 1mg &amp; CureFit&nbsp;reports indicate the salt to software conglomerate is now looking at scooping up hyperlocal&nbsp;delivery start up Dunzo.
As per reports in Deal Street the&nbsp; potential deal may value the six-year-old company at $150-200 million.&nbsp; Backed by Google, Duzno&nbsp;is a tech platform for essentials and groceries which has been a big push in growth due to the pandemic with a 300% jump in medicine and grocery sales in the last quarter itself.&nbsp;Duzno has also been making headlines as it piloting a project to conduct experimental drone delivery&nbsp;flights for the 'Medicine from the Sky Project'. Dunzo was launched in 2015 by Kabeer Biswas, Ankur Agarwal, Dalvir Suri and Mukund Jha.

Dunzo has announced that it is all set to pilot drone delivery for medicines and Covid-19 vaccines in Telangana. 

Dunzo to deliver medicines, vaccines through drones in Telangana

Dunzo has announced that it is all set to pilot drone delivery for medicines and Covid-19 vaccines in Telangana.

Dunzo to deliver medicines, vaccines through drones in Telangana
Dunzo has announced that it is all set to pilot drone delivery for medicines and Covid-19 vaccines under the &lsquo;Medicine from the Sky&rsquo; project launched by the Telangana government, in collaboration with the World Economic Forum. The exact timeline of the project is not yet known, but Dunzo told Gadgets 360 that it will roll out the deliveries as soon as it receives the go-ahead from local authorities. The drones will follow the central government&rsquo;s recent regulations for unmanned low-altitude drones. Over 20 companies, including Swiggy and SpiceJet, are working on experimental drone delivery for the project.
Dunzo to deliver medicines, vaccines through drones Telangana govt&rsquo;s &lsquo;Medicine from the Sky&rsquo; project Drone deliveries after go-ahead from authorities Delivery drones to follow govt regulations

Dunzo has announced that it is all set to pilot drone delivery for medicines and Covid-19 vaccines under the &lsquo;Medicine from the Sky&rsquo; project launched by the Telangana government, in collaboration with the World Economic Forum.
The exact timeline of the project is not yet known, but Dunzo told Gadgets 360 that it will roll out the deliveries as soon as it receives the go-ahead from local authorities.
The drones will follow the central government&rsquo;s recent regulations for unmanned low-altitude drones. Over 20 companies, including Swiggy and SpiceJet, are working on experimental drone delivery for the project.

dunzo

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