Otipy is an online agriproducts or grocery delivery social commerce platform that announced its plans  to raise $10 million in its extended series B round. The funding round will have the participation of the  firm’s new and existing investors. The company plans to use these fresh proceeds to scale its  operations, enhance its platform, expand its network and meet general corporate purpose. 

The source close to the deal told Entrackr that the startup may use this investment to expand its  operations in Delhi and Mumbai and establish new branches in Hyderabad and Bengaluru. The  company already received an agreement term sheet and the deal will be made public soon. The  Gurgaon-based startup has secured $44 million since its inception including the $32 million raised  during the Series B funding round from WestBridge Capital in 2022. The startup data intelligence  platform, the kredible mentioned that SIG Global is the firm’s biggest external stakeholder, followed  by WestBridge Capital. The company will focus on strengthening its market presence in the existing  cities. The same source mentioned that the company is also planning to achieve EBITDA breakeven in  FY25. 

This agritech startup offers an e-commerce platform that operates in a farm-to-fork delivery model. Otipy connects buyers directly with agri sellers and offers fresh produce. The investment will  help the startup achieve its goal of market expansion and strengthen its agriculture value chains  through its integrated services. This startup offers several agriculture-related and grocery deliveries.  The firm has established its name in the fruits and vegetables market now it is aiming to focus on  grocery more. The startup leverages advanced and cutting-edge technologies to offer the best services  to its customers. 

Otipy claims to have supported over 20,000 farmers and has more than 1,000 partners on  board. The startup reported a 50 percent increase in its size to Es 173 crore in FY24. The losses also  decrease by 21 percent in the same duration. This online agriproduct platform claims to offer high quality agri products with an affordable price range. This Gurgugram-based startup faces competition  from other agritech companies such as Arya.ag, Ninjacart, Bijak, Deehat and more. The development  came just after the Indian Agritech sector saw an increased interest of investors in this sector. 

Conclusion: 

Otipy is an agritech startup that provides a farm-to-fork delivery model platform. The company offers  various agri products to its buyers directly from farmers. This startup is set to raise $10 million in its  extended series B round. The funding round is most likely to have participation from the firm’s new  and existing investors. The startup intends to use this fresh capital to strengthen its operations in Delhi  NCR and Mumbai while establishing new branches in Bengaluru and Hyderabad. SIG Global is currently  the largest external stakeholder of the firm followed by WestBridge Capital. Otipy claims to have served  over 20,000 farmers and has a client base of 1,000 partners. The company has secured 44 million USD  to date.