Otipy, an agritech business, has raised $32 million in a Series B round headed by Westbridge Capital.
- ByStartupStory | March 7, 2022
Otipy, an agritech firm, raised $32 million (Rs 235 crore) in a Series B investment led by Westbridge Capital on Monday. Existing investors SIG and Omidyar Network India also took part in the round, according to the firm.
Six months after raising $10.2 million (Rs 76 crore) in its Series A round, the Gurugram-based business has received Series B investment.
Otipy, a community-based platform founded by Varun Khurana and Prashant Jain in 2020, unites customers, resellers, and farmers to provide fresh fruit to their doorstep.
The firm buys directly from farmers and saves money by 3 per cent owing to less waste. It harvests the farm’s vegetables on a per-order basis, ensuring that it stays fresh for longer. Otipy transports approximately 100 tonnes of fresh vegetables from fields to consumers every day.
The business says that its logistics operation costs only Rs 4 per kilogram from warehouse to consumer, thanks to its community leader approach.
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