Agritech startup Otipy has raised $32 million in its Series B round led by Westbridge Capital. Existing investors SIG and Omidyar Network India also participated in the round.
Entrackr had exclusively reported about this development in December. The startup had previously raised $10.2 million in Series A in July last year.
Gurugram-based Otipy works with more than 20,000 community leaders and fulfills more than 15,000 orders across cities such as Delhi-NCR (Delhi, Gurugram, Noida, Bhiwadi), Sonipat, Meerut. It plans to use the funding to expand it further.
Founded by Varun Khurana in 2020, Otipy operates a farm-to-fork delivery model by procuring directly from farmers and delivering fresh produce to consumers. The platform claims its proprietary demand prediction engines ensure little or no stocking of fresh produce and delivers the produce in less than 12 hours.
The firm has over 500,000 customers across Delhi-NCR as well as tier II and III towns like Sonepat, Meerut and Bhiwadi, it said. It now plans to expand its operations to Bengaluru, Mumbai and Hyderabad and Chennai.
Otipy directly competes with Meesho’s Farmiso and indirectly with Safal Stores and hyperlocal sabziwalas along with e-grocers such as BigBasket and Grofers.
