Otipy, an agri-tech firm that mostly sells fresh veggies and fruits through its mobile app, has received USD 32 million (Rs 235 crore) in funding from investors including Westbridge Capital to expand its operations.

Existing investors SIG and Omidyar Network India also participated in the series B fundraising round.

The Gurugram-based business raised USD 10.2 million in July of last year (around Rs 76 crore).

Otipy is a business-to-business-to-consumer (B2B2C) ecommerce platform for fresh produce that includes vegetables, fruits, dairy, and other grocery items. It was launched in 2020 as part of Crofarm Agriproducts Pvt Ltd.

Varun Khurana, the founder and CEO of Otipy, remarked, "leveraging our fast supply chain and community leader network we aim to provide fresh, quality produce to consumers at the lowest price. We will continue to build on our proposition for value conscious consumers."

According to him, the series B round of funding will help the company grow its business to additional pin codes, develop its supply chain, invest in technology, and introduce new product categories.

Otipy's technology procures fresh products from farmers based on demand produced by its prediction engines, and the farm fresh commodities are delivered to buyers within 12 hours of harvest.

By the end of this fiscal year, the firm hopes to have increased its revenue by roughly five times to Rs 100 crore.

In the previous year, the company's revenue was Rs 19.73 crore.

Westbridge Capital's MD, Sandeep Singhal, stated, "We are excited to partner with Otipy as they disrupt the daily essentials market via the community group buying model."

Over 5 lakh people use Otipy in Delhi NCR and tier 2/3 cities like Sonepat, Meerut, and Bhiwadi. Bangalore, Mumbai, Hyderabad, and Chennai are among the cities where it aims to grow its activities.

Every day, Otipy transports over 100 tonnes of fresh produce from farms to its customers.

Khurana stated in December that the company aims to be profitable by 2023.

He said, "We have created a model that small business owners, particularly women, have found appealing and successful. We have 20,000+ community leaders or resellers helping us provide various products to our valued clients."

Otipy said, “it has the industry's lowest wastage of 3 percent.”

Otipy claims to have the industry's lowest logistical costs, as low as Rs 4/kg, from its warehouse to the consumer's doorstep, thanks to its community leader model.