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Samreen Ahmad · · 1 min readReliance-backed Dunzo reportedly sheds 300 jobs
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Dunzo, an India-based hyperlocal delivery firm, has reportedly laid off 300 staff after securing US$75 million via convertible notes, Economic Times reported, citing sources.
Google and Reliance Retail, existing investors in Dunzo, together contributed about US$50 million in the round, according to the report.
Tech in Asia has reached out to Dunzo for details.
The retrenchment appears to be part of Dunzo’s efforts to restructure its business model, from relying on dark stores to partnering with supermarkets, according to various local media reports.
Launched in 2014, Dunzo aims to empower MSMEs with digital tools. It offers users a full stack of services within the commerce, courier, and commute segments.
See also: Dark stores light up red-hot grocery delivery market
The firm competes with quick-commerce platforms such as Y Combinator-backed Zepto, Swiggy Instamart, Tata’s BigBasket, and Zomato’s BlinkIt.
Dunzo had previously raised US$240 million in 2022.
Currency converted from Indian rupees to US dollars: US$1 = 81.8 rupees.
Editing by Thu Huong Le and Arpit Nayak
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