Hyperlocal delivery startup Dunzo has extended its delay in paying employee salaries. Initially, the startup, supported by Google and Reliance Retail, had indicated that it would settle all outstanding payments in the first week of September. However, it has now officially announced that the salary dues will only be resolved in the first week of October.
In an email, Dunzo apologized for the delay and assured employees that the company is working diligently to ensure timely compensation. The email noted that pending salaries for June and July, which were expected to be paid on September 4, will now be disbursed in the first week of October, along with a 12% interest. Tracxn, a market intelligence firm, reported that Dunzo secured $75 million in funding in April 2023, bringing its total raised funds to $497 million and valuing the company at $757 million. Established in 2015, Dunzo is backed by Google, Blume Ventures, Alteria Capital, and Lightrock, among others. The startup had previously downsized its workforce by 3% (80 employees) in January and an additional 30% in April as part of cost-cutting measures and operational streamlining. Dunzo continues to assess its team structures and network designs to enhance efficiency across teams.
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