Hyperlocal grocery store startup Dusminute raises Rs 11.5Cr from IPV

Hyperlocal grocery store and managed services startup Dusminute has raised Rs 11.5 crore in a bridge round led by Inflection Point Ventures, a Gurugram-based angel investment firm.

According to the startup, the raised capital would be used towards driving growth in Bengaluru.

The round also saw participation from multiple existing backers and angel investors syndicated by an angel investor and banker Bandana Kankani.

Founded by Apoorva Mishra, Ankita Asai, and Nikhil Gupta, Dusminute said it 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, The startup said it aims to fill this gap as a crucial third layer. 

Through its platform, Dusminute provides a convenient and timely solution for daily essentials and groceries.

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

Additionally, the startup plans to expand its operations to the top 7-8 cities in India and cater the growing demand for convenient grocery solutions within apartment complexes.

Unlike others, The startup is niche focused on apartment complexes and an omni-channel model combining a superstore and superapp.

Apoorva Mishra, CEO, 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.”

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