Dunzo deferred salaries of employees for a month as it is "streamlining our cash flow

 

Dunzo deferred salaries of employees for a month as it is "streamlining our cash flow so we can build a more sustainable business for the future," per an internal email sent out to employees.  The Indian hyperlocal delivery startup was reportedly finalizing a $50M funding round in March and is in advanced discussion with investors to raise an additional $20M to $25M, sources informed TechCrunch.  The firm said that it would be delaying August salaries to early September.  Additionally, Dunzo will likely lay off 200 employees, making it its third layoff this year after already reducing 400 jobs so far.  Dunzo has raised nearly $500M from investors to date, including Google and Reliance.  Market intelligence firm Tracxn has last valued the firm at $757M.  In a bid to conserve cash, the firm has shut down more than half of its dark stores and is currently prioritizing its B2B offering.