Retail tech startup NutriTap Technologies has raised about $1.5 million in a pre-series A round from Venture Catalysts, LetsVenture, IK Capital, Elysian Fintech and a few marquee HNIs from the retail industry.
The capital raised will help the company to ramp up in-house technology, invest in R&D and grow its presence across sectors and cities. NutriTap is currently operating over 250 smart retail kiosks locations across the tier I metro cities of India.
NutriTap, founded in 2018 by IIT Kharagpur alumni Rajesh Kumar and Priyank Tewari, creates alternate retail channels for brands to do Direct-to-Customer (D2C) Retail. The startup’s full-stack retail expertise includes smart kiosk technology and a simplified distribution mechanism.
The Gurugram-based startup aims to enable smart retail across 800 locations in the next year and in more than 2,500 locations in the top metro cities of India in the next two years.