DusMinute Secures $1.1 Mn In Pre-Series A Round
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Bengaluru-headquartered amenities platform for gated communities DusMinute announced to have raised $1.1 million in a pre-Series A round of funding led by Indian Angel Network (IAN), along with a few high net-worth individuals (HNIs).
Launched in October 2017, the platform offers amenities such as a supermarket, pharmacy, home services, café, and more, through the in-society store and an exclusive app, for residents of gated communities.
The startup has ensured a safe and convenient shopping experience for its users, especially during the lockdown period, by delivering all necessities within minutes from their own community store, the company shared.
“DusMinute is powering next-gen apartment buildings. We are developing a sustainable ecosystem and reducing carbon footprint by serving hyper-locally. The funding will allow us to expand to over 80,000 households and also to deepen our integrated service offering. Technology would play a major role in personalizing this experience for every household uniquely,” said Apoorva Mishra, chief executive officer, DusMinute.
According to various reports, more than 23 lakh households are staying in over 25,000 communities across Bengaluru, Chennai, Mumbai, Delhi-NCR, Pune, Hyderabad, and Kolkata. By 2030, this number is expected to increase to about 75 lakh. With the communities evolving into ecosystems of their own, this presents a $15 billion market opportunity, and DusMinute’s business model—of providing full concierge services and amenities to elevate lifestyle—serves this lucrative market, the platform further shared.
“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,” remarked collectively Sidharth Gupta and Ankit Somani lead angels, IAN, in a statement.
Currently established in over 36,000 households across 19 communities, DusMinute has been servicing prominent properties of Brigade, Prestige, Sobha, Provident, SNN, Shriram, and Godrej, among others, in the city.