2020
Gurugram (India)
Series B
Otipy is a pecializing in delivering farm-fresh produce directly to consumers' doorsteps. Otipy operates as a community group-buying platform, connecting farmers, resellers, and consumers to ensure the swift delivery of fresh fruits and vegetables, typically within 12 hours of harvest. The platform is part of the agritech startup Crofarm and was created to empower women and other individuals by giving them an opportunity to earn money as partner resellers.
Otipy leverages a community-based approach, utilizing resellers—primarily women—to facilitate the distribution of farm-fresh produce. This model minimizes food wastage and ensures consumers receive fresh products promptly. The platform offers a diverse range of items, including fruits, vegetables, dairy products, bakery items, and home care essentials. This model minimizes food wastage and ensures consumers receive fresh products promptly. The platform offers a diverse range of items, including fruits, vegetables, dairy products, bakery items, and home care essentials.
Otipy primarily targets B2C customers, including urban households seeking fresh groceries delivered conveniently at home. It also engages communities through group buying initiatives that leverage social networks for increased adoption and cost savings.
Otipy’s growth strategy revolves around four key areas:
Market Expansion: The company aims to expand operations beyond NCR into cities like Bengaluru and Hyderabad by 2025 to capture a larger share of the growing e-grocery market in India.
Product Diversification: Otipy plans to introduce more categories beyond fresh produce, such as organic foods, ready-to-eat meals, and specialty grocery items.
Supply Chain Optimization: By leveraging predictive analytics for demand forecasting, Otipy minimizes wastage (currently at just 3-4%) compared to industry standards of 15-25%.
Technology Integration: Investments in AI-powered tools ensure efficient inventory management and personalized customer experiences through features like traceability tracking within the app.
Otipy stands out in the competitive e-grocery space due to:
Farm-to-Fork Delivery Model: Unlike conventional e-commerce platforms that store inventory for extended periods, Otipy delivers produce directly from farms within 12 hours of harvest for maximum freshness.
Community Group Buying (CGB): This model fosters community engagement while offering cost benefits to customers through collective purchases.
Traceability Feature: Transparency is enhanced by allowing customers to track their produce’s journey from farm to doorstep.
Low Wastage Rates: Through predictive analytics and parallel processing systems for quality checks and inventory management, Otipy achieves wastage rates 10 times lower than traditional models.
Otipy has emerged as a leader in India’s agritech sector by addressing critical inefficiencies in the grocery supply chain while empowering farmers and delivering value to consumers. With its innovative community group buying model, advanced supply chain optimization techniques, and focus on sustainability, Otipy is well-positioned for continued growth in the dynamic e-grocery market. Investors and industry professionals recognize Otipy's potential as it expands into new markets while diversifying its offerings to meet evolving consumer demands.
$69.13 Million
3
$32.00 Million, Series B
as of March 7, 2022
-
as of N/A
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as of N/A
WestBridge Capital
and 9 more365
Bevzilla
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Date | Round Name | Amount | Valuation | Revenue | Revenue Multiple | Investors |
---|---|---|---|---|---|---|
March 7, 2022 | Series B | $32.00 Million | - | $6.3 Million | - | WestBridge Capital, Omidyar Network India, SIG Venture Capital |
December 8, 2021 | Series B | $26 Million | - | - | - | WestBridge, SAI Global |
July 19, 2021 | Series A | $10.2 Million | - | $3.0 Million | - | SIG Venture Capital, Omidyar Network India, Innoven Capital, Pravega Ventures, Factor[e] Ventures , Valpro |
August 24, 2020 | Seed | $2.0 Million | - | - | - | Inflection Point Ventures, Smile Group |