Otipy raises $1mn from Inflection Point Ventures
Otipy, the social commerce venture of farm-to-fork agritech startup Crofarm, has raised $1 mn from Inflection Point Ventures (IPV).The funding will be used to augment the existing technology infrastructure, further expand the reseller base in Delhi/NCR, and build deeper relationships with the farmer ecosystem.
Otipy connects consumers with the farmers through women resellers. This venture claims that it has more than 1,000 partner resellers catering to over 100,000 consumers.Otipy says the fruits and vegetables available on the social commerce platform are sourced from the farm, and are chemical-free and hygienic.
IPV Founder and CEO Vinay Bansal 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.”