Hyperlocal grocery-store and managed services company, Dusminute, has secured INR 11.5 crore in a bridge funding round led by Inflection Point Ventures. The funds will fuel Dusminute’s expansion plans in Bangalore and further solidify its position as Karnataka’s leading convenience store chain catering to the grocery needs of affluent residents in gated communities. The bridge round saw participation from multiple existing investors and industry veteran angel investors syndicated by angel investor and banker, Bandana Kankani.

Dusminute’s hyperlocal omnichannel platform fills the gap between existing quick commerce and traditional e-commerce players, addressing issues like product quality, delivery time, and unit economics. Targeting the grocery needs of elite residents in apartment complexes, Dusminute aims to create a convenient and timely solution tailored to the requirements of these communities.

Dusminute was founded by Apoorva Mishra, Ankita Asai, and Nikhil Gupta, who bring strong academic backgrounds with B. Tech degrees from prestigious institutions like IIT Kanpur and IIT Delhi. Apoorva Mishra, CEO of Dusminute, stated: “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 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.

Madhukar Bhardwaj, Sr. Vice President, Inflection Point Ventures, praised Dusminute’s unique omni-channel approach, stating: “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. 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.”

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.”

The company’s niche focus on apartment complexes and its innovative omni-channel model, combining a superstore and superapp, set it apart, offering convenience, high-quality products, and addressing concerns of product quality and delivery time. With a low customer acquisition cost and a captive audience, Dusminute’s profitable business model positions it as a leading player in serving the grocery needs of affluent residents. Dusminute’s success is evident in its current operations running in 35 apartment communities, with a pipeline of a dozen more, making it the preferred shopping destination within these communities.