Hyperlocal Services Startup Dusminute Raises INR 11.5 Crore The funds will be utilized to drive Dusminute's growth in Bangalore
By Teena Jose
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Hyperlocal grocery-store and managed services company Dusminute has raised INR 11.5 Crores in a bridge Round led by Inflection Point Ventures. The round has seen participation from multiple existing investors, angel investors and banker Bandana Kankani. The funds will be utilized to drive Dusminute's growth in Bangalore.
"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," said Apoorva Mishra, CEO, Dusminute.
Dusminute is building a brand catering to the grocery needs of affluent and elite residents in gated communities. With its hyperlocal omnichannel platform, Dusminute provides a convenient and timely solution for daily essentials and groceries specifically tailored to the needs of these communities.
In an official statement, the company said that it plans to expand its operations to the top 7-8 cities in India, leveraging its successful foundation and meeting the growing demand for convenient grocery solutions within apartment complexes.
"DusMinute is aiming to take quick commerce a notch higher by leveraging an omni channel approach. It blends the best of both worlds, of a quick-commerce operator as a quick delivery provider and the convenience and healthy unit economics of a neighbourhood kirana store. 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," said Madhukar Bhardwaj, senior vice-president, Inflection Point Ventures.
Founded by Apoorva Mishra, Ankita Asai, and Nikhil Gupta, Dusminute aims to transform the grocery ordering experience for residents in gated communities.
