Google-backed Dunzo lays off 3% workforce

17 Jan 2023 , 01:37 PM

Dunzo, a Google-backed delivery platform, has laid off 3% of its workforce, citing restructuring. It has joined a long list of Indian startups that have been cutting headcount to cut costs.

According to LinkedIn information, Dunzo has 3,000 employees, which means that the startup has let go of approximately 90 employees. The number of employees laid off was not disclosed by the company.

Dunzo last raised $240 million in January 2022 in a funding round led by Reliance Retail Ventures Ltd., with other investors including, Lightbox and Lightrock also participating, for a post-money ‘conservative’ valuation of $800 million. It hoped to raise another $250 million to $300 million to fund its expansion plans and quick commerce business.

The company’s loss more than doubled to Rs464 crore in FY22, up from Rs229 crore in the previous fiscal. Operating revenue has increased from Rs25.1 crore in FY21 to Rs54.3 crore in FY22.

Dunzo had planned to go public in 2023, but it is now giving its quick commerce business more time to mature before going public.

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