This company which sells vegetables, fruits, dairy and other grocery items is rising and shining. It is
Agri-tech startup called Otipy.
It primarily sells fresh vegetables and fruits through its mobile app. It has raised USD 32 million (Rs 235 crore) from investors including Westbridge Capital to grow its business, reports PTI.
In fact, in the series B funding round, existing investors SIG and Omidyar Network India have also participated.
Records show that in 2022, the Otipy, a Gurugram-based startup had raised USD 10.2 million (around Rs 76 crore).
It was launched in 2020. Two years later Otipy is part of Crofarm Agriproducts Pvt Ltd.It is a business-to-business-to-consumer (B2B2C) ecommerce platform for fresh produce that includes vegetables, fruits, dairy and other grocery items.
It’s founder and CEO Varun Khurana is on record having said this. "Leaveraging our fast supply chain and community leader network we aim to provide fresh, quality produce to consumers at the lowest price. We will continue to build on our proposition for value conscious consumers."
It is technology driven as Otipy uses its technology to procure fresh produce from farmers on the basis of demand generated as per its prediction engines and then delivers the farm fresh goods to customers within 12 hours of harvest.
The startup expects its turnover to rise nearly five times to Rs 100 crore by the end of this 2022-23 financial year.
( Inputs credit PTI)