Community commerce startup DusMinute raises $1.1 million from Indian Angel Network

  • The startup will use the funding to expand its presence to over 80,000 households and deepen integrated service offerings.
  • DusMinute currently delivers products to over 36,000 homes in Bengaluru.
  • Besides IAN, other high net worth individuals also took part in the funding round.

Bengaluru-based DusMinute, which delivers amenities like home services and pharmacy services to gated communities, has raised $1.1 million (about Rs 8 crore) in a pre-Series A funding round led by Indian Angel Network (IAN). Besides IAN, other high net worth individuals also participated in the funding round.

To widen its reach, DusMinute will infuse the capital to expand its presence to over 80,000 households and deepen its integrated service offerings, the statement said. It currently delivers products to over 36,000 homes across 19 gated communities in Bengaluru.

The startup recently acqui-hired Gapoon to strengthen its position in providing home services to Bengaluru-based gated communities. According to the reports, Over 2.3 million households are staying in over 25,000 gated communities in cities like Delhi NCR, Chennai, Mumbai, Bengaluru, Pune, Hyderabad, Kolkata. By the next few years, it is expected that this number would reach 7 million households.

Founded in October 2017 by Apoorva Mishra, Ankita Asai, and Nikhil Gupta, Indwell Retail Private Limited, which owns and operates DusMinute, uses an omnichannel approach to deliver amenities like supermarket, pharmacy services, café, and home services through the in-society store and its commerce app to residents of gated communities.

The startup has been providing services to properties built by Brigade Group, Prestige, SNN, Sobha, Provident, Shriram Properties, Divyasree, Godrej Properties, Adarsh Group, among several others in Bengaluru.

Commenting on the latest fundraise, Apoorva Mishra, Co-founder & CEO of DusMinute and Gapoon, said, “DusMinute is powering next-gen apartment buildings. We are developing a sustainable ecosystem and reducing carbon footprint by serving hyper-locally.”

Also Read: O2O Commerce startup DotPe raises $27.6 million funding from PayU

Speaking on the investment, Sidharth Gupta and Ankit Somani from IAN, said, “Gated communities will increasingly be the preferred urban living option and DusMinute’s model addresses many of the pain points of residents. The DusMinute model has been well received; they already have a fair consumer base and steady cash flows. “

“We are happy to back the dedicated team at DusMinute and look forward to helping develop this exciting business through its next phase of growth,” they added.

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