Roehl Niño Bautista · · 1 min readIndian agritech firm raises $32m in series B money
India-based Otipy, an ecommerce platform for farm produce, has raised US$32 million in its series B round led by Westbridge Capital, with existing investors SIG and Omidyar Network India participating.
Photo credit: Otipy
Operated by Crofarm Agriproducts, Otipy offers an alternative supply chain that connects farmers directly with businesses and customers. It takes bookings from customers before it harvests, allowing the company to identify places where the produce needs to go after they are picked. It also provides group buying services.
The company says that it has over 500,000 users in India. It adds that it has the lowest waste rate in the industry at 3%.
Otipy was launched in 2020 by Varun Khurana, former chief technology officer of Grofers.
“The series B round of funding will support us as we expand to new pin codes, strengthen our supply chain, invest in cutting-edge tech, add product categories, and accelerate our mission of making fresh, nutritious food accessible to all,” said Khurana.
See also: The key players in Indonesia’s promising agritech space
The latest fundraise comes months after Otipy banked US$10.2 million in a SIG-led raise. Omidyar Network India, InnoVen Capital, and existing investors Inflection Point Ventures, Pravega, and FactorE also participated in the round.
Editing by Deepti Sri and Lorenzo Kyle Subido
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