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This article is more than 1 year old.

Otipy closes Pre-Series A round; aims to empower 20K women sellers

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Otipy, the social commerce venture of farm-to-fork agritech startup, Crofarm has raised an additional $1 million as its Pre-series A round, from Inflection Point Ventures, an early-stage investing platform. Launched in February 2020, Otipy had raised $1 million from Smile Group in June this year.

Otipy closes Pre-Series A round; aims to empower 20K women sellers
Otipy, the social commerce venture of farm-to-fork agritech startup, Crofarm has raised an additional $1 million as its Pre-series A round, from Inflection Point Ventures, an early-stage investing platform. Launched in February 2020, Otipy had raised $1 million from Smile Group in June this year.
The company has already scaled 4x growth in the last three months and expects the fresh funding to further boost its momentum in Unlock Phase 3.0 as well.
Otipy connects over 1 lakh consumers with farmers through women resellers. Currently, with over 1,000 partner resellers, mainly women, the venture plans to reach out to 20,000 women sellers by the end of this year.
Otipy claims it has an extensive product catalogue of fresh, hygienic and chemical-free on-demand fruits and vegetables from the farm, usually 25 percent cheaper than the market.
“We are super excited to partner with Inflection Point Ventures at this juncture when our business is showing very high consumer stickiness. 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. We are delighted to secure funds from Inflection Point Ventures, they have a wealth of experience in consumer startups, guiding them from growth to sustainability. We look forward to benefitting from the same,” said Varun Khurana, Co-Founder & CEO, Otipy.
Otipy plans to leverage these funds to augment the existing technology infrastructure, further expand the reseller base in Delhi/NCR and go deeper with its farmer relationships to offer fresh produce at the lowest prices.
Vinay Bansal, Founder & CEO, IPV 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 in a manner that is un-matchable on price and freshness that is enabled by unique and tech-driven supply chain,"
"The company has really performed well since its inception, and it’s certainly going to be a trendsetter in the times to come. We watched the company’s performance closely during lockdown, and more importantly its growth during the un-locking phase, which led to believe in its sustainable value proposition and the vision of transforming the entire farm ecosystem in India,” Bansal added.
A B2B2C platform, Otipy’s AI-based demand prediction tool collects historical data to procure the produce, facilitates on-demand harvesting ensuring delivery of fresh produce on the same day. It also uses customer relationship management tools on WhatsApp to interact and serve consumers.
Otipy, through its B2B arm, supplies fruits and vegetables to over 5,000 plus retailers, which is sourced from farmers across Haryana, UP, Delhi, Gujarat, Himachal Pradesh, Karnataka, Rajasthan, and Maharashtra.
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