NewDelhi: Social e-commerce venture of farm-to-fork agritech startup, Otipy, on Monday announced it is planning to raise $10 million this year to expand its presence in the country.
According to a statement from the startup, it aims to empower more resellers and further build its business across India. The company is in active discussions to raise $10 million in 2021.
Otipy has already raised $ 2 million in 2020 from Inflection Point (IP) Ventures and the Smile Group.
Otipy Founder Varun Khurana said, “We have a history and deep understanding of fresh produce that we have leveraged to build a social commerce model that creates earning opportunities for women and stores, helps farmers, and provides fresher, more nutritious produce to consumers at a lesser price.”
“In the last 8-9 months, we have built a robust platform in the fresh produce category supporting over 2,500 women and stores as resellers and are witnessing a phenomenal response from customers in Delhi NCR. We now plan to further expand this market in other cities as well,” he added.
These community leaders/resellers earn a commission of up to 10 per cent for all group sales, the highest across all social commerce brands in India, the company claimed.
