Dusminute, a hyperlocal grocery-store and managed services startup, has successfully raised Rs 11.5 Crores in a bridge round led by Inflection Point Ventures. The funds will be utilized to fuel Dusminute’s expansion in Bangalore.
This funding round also saw participation from multiple existing investors and industry veteran angel investors syndicated by Bandana Kankani, an angel investor and banker.
Dusminute’s core focus lies in serving the grocery needs of affluent residents in gated communities. It aims to address the limitations of existing quick-commerce and traditional e-commerce players, such as product quality, delivery time issues, and unit economics, by offering a crucial third layer. Through its hyperlocal omnichannel platform, Dusminute provides a convenient and tailored solution for daily essentials and groceries specifically catering to the requirements of these communities.
The company was founded by Apoorva Mishra, Ankita Asai, and Nikhil Gupta, all possessing strong academic backgrounds from prestigious institutions like IIT Kanpur and IIT Delhi. Apoorva Mishra, as CEO, brings expertise in finance, business operations, and strategy from his previous roles at Gapoon, EXL, and Fractal. Ankita Asai, the CPO, specializes in product development and growth, with prior experience at Gapoon and Schlumberger. Nikhil Gupta, the COO, focuses on efficient operations, with entrepreneurial experience at Gapoon and a background at Fractal.
Dusminute’s unique model revolves around partnering with developers and Resident Welfare Associations (RWAs) to establish in-society stores, creating a superstore within the community. In addition, the startup offers a dedicated super app for home deliveries and value-added services, ensuring a comprehensive and familiar grocery solution.
With this latest funding boost, Dusminute plans to expand its operations to the top 7-8 cities in India. Its innovative omni-channel approach, blending the convenience of quick-commerce and the familiarity of neighborhood kirana stores, sets it apart from the competition. The company’s profitable business model, built on a low customer acquisition cost and a captive audience, positions it as a leading player in fulfilling the grocery needs of affluent residents in gated communities.