Hyperlocal services startup Dusminute raises Rs 11.5 Crore led by Inflection Point Ventures

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Dusminute revolutionizes grocery ordering in gated communities by partnering with developers and RWAs. They provide a superstore within the community and a dedicated super app for home deliveries and other value added services offering residents a convenient and comprehensive solution.

Hyperlocal grocery-store and managed services company Dusminute has raised Rs 11.5 Crores in a bridge Round led by Inflection Point Ventures. The funds will be utilized to drive Dusminute’s growth in Bangalore.

The round has seen participation from multiple existing investors and industry veteran angel investors syndicated by an angel investor and banker Bandana Kankani.

Dusminute is building a brand catering to the grocery needs of affluent and elite residents in gated communities. While existing quick commerce and traditional e-commerce players have their limitations, such as product quality, delivery time issues and unit economics, Dusminute aims to fill this gap as a crucial third layer. 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.

Dusminute Founders

Dusminute was founded by Apoorva Mishra, Ankita Asai, and Nikhil Gupta, who bring with them a strong academic background with B. Tech degrees from prestigious institutions like IIT Kanpur and IIT Delhi. Apoorva Mishra, CEO, Dusminute is an expert in key operation areas like finance, business operations and strategy, honed through his experience as the founder of Gapoon and previous roles at EXL and Fractal. Ankita Asai, the CPO, specializes in product development, processes, and growth. She has also founded Gapoon and worked at Schlumberger. Nikhil Gupta, the COO, focuses on efficient operations, with prior entrepreneurial experience at Gapoon and a background at Fractal.

Madhukar Bhardwaj, Sr. Vice President, Inflection Point Ventures, says, “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.”

Plans To Expand

Dusminute 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.

Its niche focus on apartment complexes and its innovative omni-channel model combining a superstore and superapp sets it apart. Offering convenience, high-quality products, and addressing concerns of product quality and delivery time. With a low CAC and a captive audience, Dusminute’s profitable business model positions it as a leading player in serving the grocery needs of affluent residents.

Apoorva Mishra, CEO, Dusminute says, “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 currently operates in 35 apartment communities and has a pipeline of a dozen more. This has solidified its position as the go-to destination for convenient shopping within these communities. The projected increase in the number of residents in gated communities by 2030 offers Dusminute substantial growth potential.

About Dusminute

Dusminute was founded by Apoorva Mishra, Ankita Asai, and Nikhil Gupta. Dusminute is transforming the grocery ordering experience for residents in gated communities. Their innovative approach leverages relationships, data, and proximity commerce.

Dusminute adopts a unique omnichannel strategy. They partner with developers and Resident Welfare Associations (RWAs). They offer a superstore within the community premises. This superstore provides a wide range of products, including vegetables, groceries, bakery items, snacks, and even a pharmacy.

Moreover, Dusminute has a dedicated superapp. This app facilitates home deliveries and offers numerous value-added services like painting, deep cleaning, pest control, and more. In doing so, Dusminute creates a comprehensive 360° solution for residents’ needs.

About Inflection Point Ventures & Physis Capital

Inflection Point Ventures (IPV) is an angel investing platform. It has over 8600 CXOs, HNIs, and Professionals who come together to invest in startups. The firm supports new-age entrepreneurs with monetary and experiential capital. Additionally, it connects them with a diverse group of investors. IPV has recently announced the launch of a $50 million CAT 2 AIF Physis Capital. The fund will focus on investing in pre-Series A to Series B growth-stage startups.

Also Read The Latest News:
Google enhances nearby share for seamless windows-to-Android file transfers
Apple Forges Ahead with Internal AI Development, Creating ‘Apple GPT’ Chatbot in Response to Rival Giants

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Hyperlocal services startup Dusminute raises Rs 11.5 Crore led by Inflection Point Ventures

Dusminute revolutionizes grocery ordering in gated communities by partnering with developers and RWAs. They provide a superstore within the community and a dedicated super app for home deliveries and other value added services offering residents a convenient and comprehensive solution.

Hyperlocal grocery-store and managed services company Dusminute has raised Rs 11.5 Crores in a bridge Round led by Inflection Point Ventures. The funds will be utilized to drive Dusminute’s growth in Bangalore.

The round has seen participation from multiple existing investors and industry veteran angel investors syndicated by an angel investor and banker Bandana Kankani.

Dusminute is building a brand catering to the grocery needs of affluent and elite residents in gated communities. While existing quick commerce and traditional e-commerce players have their limitations, such as product quality, delivery time issues and unit economics, Dusminute aims to fill this gap as a crucial third layer. 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.

Dusminute Founders

Dusminute was founded by Apoorva Mishra, Ankita Asai, and Nikhil Gupta, who bring with them a strong academic background with B. Tech degrees from prestigious institutions like IIT Kanpur and IIT Delhi. Apoorva Mishra, CEO, Dusminute is an expert in key operation areas like finance, business operations and strategy, honed through his experience as the founder of Gapoon and previous roles at EXL and Fractal. Ankita Asai, the CPO, specializes in product development, processes, and growth. She has also founded Gapoon and worked at Schlumberger. Nikhil Gupta, the COO, focuses on efficient operations, with prior entrepreneurial experience at Gapoon and a background at Fractal.

Madhukar Bhardwaj, Sr. Vice President, Inflection Point Ventures, says, “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.”

Plans To Expand

Dusminute 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.

Its niche focus on apartment complexes and its innovative omni-channel model combining a superstore and superapp sets it apart. Offering convenience, high-quality products, and addressing concerns of product quality and delivery time. With a low CAC and a captive audience, Dusminute’s profitable business model positions it as a leading player in serving the grocery needs of affluent residents.

Apoorva Mishra, CEO, Dusminute says, “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 currently operates in 35 apartment communities and has a pipeline of a dozen more. This has solidified its position as the go-to destination for convenient shopping within these communities. The projected increase in the number of residents in gated communities by 2030 offers Dusminute substantial growth potential.

About Dusminute

Dusminute was founded by Apoorva Mishra, Ankita Asai, and Nikhil Gupta. Dusminute is transforming the grocery ordering experience for residents in gated communities. Their innovative approach leverages relationships, data, and proximity commerce.

Dusminute adopts a unique omnichannel strategy. They partner with developers and Resident Welfare Associations (RWAs). They offer a superstore within the community premises. This superstore provides a wide range of products, including vegetables, groceries, bakery items, snacks, and even a pharmacy.

Moreover, Dusminute has a dedicated superapp. This app facilitates home deliveries and offers numerous value-added services like painting, deep cleaning, pest control, and more. In doing so, Dusminute creates a comprehensive 360° solution for residents’ needs.

About Inflection Point Ventures & Physis Capital

Inflection Point Ventures (IPV) is an angel investing platform. It has over 8600 CXOs, HNIs, and Professionals who come together to invest in startups. The firm supports new-age entrepreneurs with monetary and experiential capital. Additionally, it connects them with a diverse group of investors. IPV has recently announced the launch of a $50 million CAT 2 AIF Physis Capital. The fund will focus on investing in pre-Series A to Series B growth-stage startups.

Also Read The Latest News:
Google enhances nearby share for seamless windows-to-Android file transfers
Apple Forges Ahead with Internal AI Development, Creating ‘Apple GPT’ Chatbot in Response to Rival Giants

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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