Reliance Retail Backed Dunzo Adjourns June Salary For 500 Employees

Google-backed Dunzo recently delayed the salary payments of 50% of its employees for the month of June. After getting rid of about 80 employees in January 2023, Dunzo also trimmed costs in the same month by firing almost 300 individuals. According to a Moneycontrol piece, Dunzo employs over 1,000 people in total, and the most recent move to delay pay will affect roughly 500 employees.

Despite raising $75 million in April of this year, 500 employees' salaries have been delayed owing to weak cash flow management, according to a Moneycontrol write-up. Dunzo has 1612 employees as of May 23 according to statistics from Tracxn. The number of employees in total is 26 less than it was on April 23.

Since 2015, Dunzo has received close to $500 million in funding from companies like Reliance, Google, Lightrock, Lightbox, Blume Ventures, and many more. According to Tracxn, Reliance owns the highest shareholding in Dunzo with a 25.6 percent stake, followed by Google with a 19 per cent shareholding. Its most recent investment round, a $75M Series F deal, was completed on April 6, 2023.
Dunzo provides services in the B2C and B2B markets for space related to food and agriculture and transportation and logistics. Google, Lightrock India, and Alteria Capital are just a few of the 43 institutional investors in Dunzo. Deep Kalra, Lightbox, and 25 additional angel investors make up the majority of Dunzo's institutional investors.

According to a recent report from PTI, Dunzo's logistics subsidiary Dunzo4Business intends to expand the business to 10-15 locations in the upcoming 12-18 months. Currently, the organisation collaborates with over 70,000 delivery partners in 10 cities. Gojek, Swiggy, DoorDash, and Zepto are some of Dunzo's competitors. According to statistics from Tracxn, Dunzo is now ranked 8th out of 111 rivals.