How Dunzo blew Reliance’s money

The dismal FY23 numbers will make it difficult for the grocery delivery startup to win over investors; separately, a reality check for Pristyn Care.

For any startup to run out of money is one thing. But to run out of as much money as Dunzo did is entirely another. This week, the Bengaluru-based grocery delivery company filed its financial statements for fiscal 2022-23 with the Registrar of Companies. And a closer look at its numbers reveals a picture of unbelievable chaos. Throughout the year, Dunzo seems to have spent money like a drunken sailor. 

The numbers narrate the story of a massive expansion spree that Dunzo had clearly undertaken during the year—one that ended up adding little to the overall revenue but a lot …

Author

Harveen Ahluwalia

Harveen is a co-founder at The Morning Context, and leads our Internet coverage, overseeing a team of reporters writing on startups and tech. She has previously worked as a media, consumer and tech reporter at The Ken and Mint. At The Morning Context, she writes on startups, venture capital, consumer and media businesses—from e-commerce to healthtech to streaming.

Editor, Internet

harveen@mailtmc.com

Mumbai