Ex-Dunzo CEO Kabeer Biswas has joined Flipkart to work on the company’s quick commerce offering, Flipkart Minutes, a person familiar with the matter confirmed to YourStory.
Flipkart has not responded to the queries shared by YourStory at the time of publishing.
The Walmart-owned ecommerce major has been bullish on its expansion plans for Flipkart Minutes, focusing on adding new categories on the platform and cities to its dark store network. It has already launched quick medicine delivery in Bengaluru and Delhi, aiming to expand the feature to other top cities, the person quoted above confirmed.
Last week, Biswas handed in his resignation as the CEO of the failing hyperlocal delivery startup Dunzo. Biswa is the latest co-founder to step away from the company after Mukund Jha, Dalvir Suri, and Ankur Agarwal left the company.
According to a report by Inc42, Dunzo’s major investor Reliance has written off its $200 million investment in the platform. Reliance, which holds a 25.8% stake in Dunzo from its investment in January 2022, is no longer involved in any discussions regarding additional funding or a distress sale.
Most of its investors, including Google and venture capital firm Lightbox, have also departed from the company’s board of directors.
Founded in 2014, the Bengaluru-based company last raised $75 million in a Series F funding round in April 2023 and has a post-money valuation of $744 million, as of April 14, 2023, according to data website Tracxn.
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