Dalvir Suri, a co-founder of Dunzo, is stepping down from the company after more than six years, according to an email sent to employees by CEO Kabeer Biswas on October 1.
Suri initially joined Dunzo, a hyperlocal delivery platform, in May 2015 when it was still in its infancy, accepting orders through WhatsApp. As one of the co-founders alongside Biswas, Ankur Aggarwal, and Mukund Jha, Suri played a pivotal role in the company’s early development.
However, it’s important to note that despite Dunzo having four co-founders, only CEO Kabeer Biswas holds equity in the company. The remaining co-founders, including Suri, receive fixed salaries, which Dunzo has faced challenges in paying on time in the past.
Suri’s departure coincides with a challenging period for Dunzo, which has been grappling with financial difficulties while seeking new funding in the range of $23-30 million. Sources within the company have suggested that Suri had expressed a desire to leave the firm on previous occasions but had remained after discussions with CEO Biswas. This time, however, it appears that his departure is definitive.
In an email to employees, CEO Kabeer Biswas announced Suri’s departure, saying, “As 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.” Moneycontrol has reviewed a copy of this email.
Dunzo plans to hold a company-wide meeting later this week to inform employees about the organizational changes following Suri’s exit.
The email praised Suri’s contributions to Dunzo, highlighting his role in building various aspects of the business. Suri was responsible for scaling Dunzo’s B2B division, Dunzo Merchandise Service (DMS), which has become a significant portion of Dunzo’s business after the company shifted its focus away from customer-centric operations.
Due to mounting losses, Dunzo has downsized its quick-commerce arm and implemented cost-saving measures such as relinquishing office space in Bengaluru and conducting multiple rounds of layoffs.
Since 2015, Dunzo has raised nearly $500 million in funding from investors including Reliance, Google, Lightrock, Lightbox, Blume Ventures, and others. Reliance holds the largest stake in the company with 25.8 percent ownership, followed by Google with approximately 19 percent ownership, as reported by Tracxn, a private markets data provider.