Dusminute Raises Rs 11.5 Cr In Bridge Funding Round
Dusminute, a hyperlocal grocery store and managed services firm, has raised $1.4 million (Rs 11.5 crore) in a bridge funding round led by Inflection Point Ventures.
The funding round also saw participation from existing investors and industry veteran angel investors syndicated by Bandana Kankani, an angel investor and banker.
As per the startup, the freshly raised funds will be utilized to fuel growth in Bangalore, as the startup aims to become a leading player in serving the grocery needs of affluent and elite residents in gated communities.
Dusminute | Omnichannel Amenities Platform
Founded by Apoorva Mishra, Ankita Asai and Nikhil Gupta, Dusminute offers grocery ordering services in gated communities, providing a convenient and timely solution for daily essentials and groceries.
The omnichannel amenities platform partners with developers and resident welfare associations (RWAs), who provide a superstore within the community and a dedicated super app for home deliveries and other value-added services.
Speaking about the development, Apoorva Mishra, Co-founder and CEO of Dusminute, said,
“Omni channel is the future of retail, and it’s here already. Dusminute redefines both the offline and online experience for its consumers. This investment will help us to scale up in Bangalore and turn operationally profitable within the coming months. We want to capture a key market like Bangalore, build a profitable business and then enter newer markets in India.”
Dusminute differentiates itself from existing quick-commerce and traditional e-commerce players by addressing limitations such as delivery time issues, product quality, and unit economics, filling a crucial third layer in the market. It claims to be redefining modern urban living by providing hotel-like convenience at home.
With its stores located within the community complexes, the startup offers amenities like grocery, farm-fresh fruits & vegetables, pharmacy, home services & more, along with resident exclusive app allowing access to all these quality services at an economical cost.
Leveraging its successful foundation and meeting the growing demand for convenient grocery solutions within apartment complexes, Dusminute plans to expand its operations to the top 7-8 cities in India.
Commenting on the development, Madhukar Bhardwaj, Sr VP of Inflection Point Ventures, stated that DusMinute aims to take quick commerce a notch higher by leveraging an omnichannel approach.
Madhukar Bhardwaj added,
“In-society stores make customers more comfortable in buying and exchanging products, and the home delivery provided adds convenience with a familiar touch of kirana stores. We believe such a hybrid model has the potential to emerge as a good alternative to users and will establish itself as a recognizable brand in coming times.”
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