Otipy an social commerce startup raises $1M from Inflection Point Ventures
Otipy is basically an social commerce startup, which mainly focus on the agricultural sector just by delivering fresh fruits and vegetables to the consumers, and even enables farmers to get a fair price. Otipy recently raised $1 million from Inflection Point Ventures (IPV), which is an early-stage i
Otipy is basically an social commerce startup, which mainly focus on the agricultural sector just by delivering fresh fruits and vegetables to the consumers, and even enables farmers to get a fair price.
Otipy recently raised $1 million from Inflection Point Ventures (IPV), which is an early-stage investing platform. As, per the statement from the startup, they have scaled 4x growth in the last three months. Brand, further expects the fresh funding to increase its momentum as the country emerges from the ongoing COVID-19 lockdown restrictions.
According, to the reports Otipy connects consumers with the farmers by the women resellers. This company claims that they have more than 1,000 partner resellers catering to over 100,000 consumers.
Otipy says that all the fruits and vegetables, which are available on the social commerce platform are directly sourced from the farm, and they are totally chemical-free and hygienic.
On the funding, Otipy Co-founder and CEO Varun Khurana said, “We have built a very strong community with our partner resellers (mostly women) and have empowered them by providing an alternate source of income especially in these times when other sources have dried up. Also, with the recent changes in APMC our farmer network is growing at a very fast pace.”
Otipy, will make use of the fresh funding for the augmentation of the existing technology infrastructure, further will expand the reseller base in Delhi/NCR, and even try to build deeper relationships with the farmer ecosystem.
Earlier, it has raised $1 million from Smile Group. Otipy has presence in Gurugram, Delhi, Noida, Ghaziabad, and Greater Noida. Since, this March it is the 12th investment by the IPV.
On the investment into Otipy, IPV Founder and CEO Vinay Bansal said, “Otipy is a new concept in India and has gained huge traction so far. Not only does it eliminate the challenge of fair pricing for farmers, but also ensures delivery of fresh produce to end-consumers.”
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Otipy is basically an social commerce startup, which mainly focus on the agricultural sector just by delivering fresh fruits and vegetables to the consumers, and even enables farmers to get a fair price. Otipy recently raised $1 million from Inflection Point Ventures (IPV), which is an early-stage i02Who wrote it?
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