Dunzo has promised staff to pay an curiosity of 12% every year on the wage part that it held again from June.
Isha Ambani backed money strapped quick-grocery supply supplier Dunzo has been delaying salaries of staff for the previous few months now. Dunzo first promised to clear the dues by July 20 and later it set a brand new deadline of September 4. Unable to boost funds, the Reliance Retail backed startup is now reportedly planning to pay the due salaries ‘batch-wise’. “Resulting from sure procedural necessities, now we have to do that batch-wise. It might take a further day or two for us to facilitate this switch for everybody,” Dunzo advised staff in an e-mail. “Relaxation assured you’ll obtain your August 2023 wage inside this week with out fail,” the e-mail additional reads.
Dunzo has promised staff to pay an curiosity of 12% every year on the wage part that it held again from June. Earlier in August, it was reportedly in superior talks to boost between $80-100 million in its sequence G spherical from its present buyers, together with Lightbox and Lightrock. The funding spherical “largely includes fairness funding and might have a small debt component”, in accordance with studies.
Based by Kabeer Biswas, Ankur Agarwal, Dalvir Suri and Mukund Jha in 2014, the startup raised a number of rounds of funding and bought curiosity from giants like Google and Lightbox. Mukesh Ambani purchased round 25% stake in Dunzo in January final 12 months by investing virtually Rs 1641 crore. (with inputs from IANS)