Liquidity Events
Supermarket chain Star Localmart acquires hyperlocal grocery deliverer DusMinute
Kolhapur, Maharashtra-based Star Localmart , the retail arm of the Sanjay Ghodawat Group (SGG), has acquired Bengaluru-based hyperlocal grocery delivery startup Dusminute .Through the acquisition, Star Localmart will have a network of 170 stores and focus on offering supermarket formats to rural consumers in tier-II and tier-III cities across Maharashtra, Karnataka, Goa, Andhra Pradesh, and Telangana.Founded in 2020 by Apoorva Mishra, Nikhil Gupta and Ankita Asai, DusMinute is a hyperlocal managed mobile app platform which operates stores within residential complexes, offering groceries, dairy, fruits, vegetables and household items.
Between Jan-21 and Jun 2023, DusMinute had attracted about USD 1.34 M from IAN Fund, Pratithi Investments, Indian Angel Network, IP Ventures and others.For FY24, DusMinute had reported about INR 33 Cr in Operating Income and about INR 10 Cr in Net Loss.
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