Dunzo’s last standing cofounder Kabeer Biswas set to exit cash-strapped delivery startup

Kabeer Biswas, the sole remaining cofounder and the present CEO at Reliance Retail-backed Dunzo, has discussed leaving the company with investors, according to people familiar with the matter.

This follows nearly 12–18 tumultuous months at the Bengaluru-based company which has struggled to raise fresh funds to survive in a highly competitive quick commerce market.

Biswas's discussions to exit the company he cofounded coincides with the rapid growth of its rivals like Zomato's Blinkit, Swiggy's Instamart and Zepto.


ET reported on Thursday that former Dunzo executives are setting up new ventures in the quick commerce space. “There have been talks from him (Kabeer) about moving on from Dunzo, and a consensus needs to be reached. Some investors have not opposed the idea given the state of affairs at the firm” one person familiar with the matter said.

Also Read: ETtech Exclusive: Dunzo cofounder Dalvir Suri to exit amid tough times

“All options are on the table, including what happens to his remaining stake in the company. Reliance, however, hasn’t yet approved the proposal but continues to be in discussions on the matter,” another person close to the discussions said.

Emails sent to Reliance Retail and Biswas did not elicit a response as of press time Thursday.

Having written off their investment in Dunzo, some of the shareholders are willing to let Biswas move on but the final call from Reliance Retail will be key, sources said.

Also Read: PhonePe explored investment in Dunzo’s merchant business

All said, Dunzo, among the first startups to facilitate hyperlocal deliveries, has raised over $450 million in funding including debt. Its biggest cheque came from Reliance Retail in January 2022 when the Mumbai-headquartered conglomerate ploughed $200 million as part of a $240 million funding round. Reliance Retail owns a 25.8% stake in Dunzo, while Google holds just under 20%. Reliance’s backing was seen as a big bet on the Bengaluru-based startup as well as the quick commerce sector.

Also Read: Dunzo’s business in free fall amid severe cash flow issues

Since 2023, Dunzo employees have been hit by several rounds of job cuts, salary delays as the startup scaled down operations in a significant manner. Following its struggle to raise cash, Dunzo managed to secure debt financing to run daily operations but creditors have taken it to the National Company Law Tribunal (NCLT). “They are facilitating some courier delivery services but nothing much is left there anymore,” one of the sources mentioned above said.