Otipy, an agritech startup, has partnered with Open Network for Digital Commerce (ONDC) to offer fruits and vegetables for sale to customers.
The business also intends to introduce newer categories, including the freshly baked breads that were just introduced.
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Otipy is a progressive agritech startup that was formed in 2020 by Varun Khurana and Prashant Jain. By the end of the year, the company hopes to have five times as many monthly users as it does now. Its recent integration with the government-backed Open Network for Digital Commerce (ONDC), which has the potential to completely transform the Indian market for fresh fruit, is a testament to this ambition.
Otipy started small in the Delhi-NCR area and has now grown to include major Indian cities like Hyderabad, Bengaluru, Chennai, Mumbai, and Hyderabad. A successful $32 million Series B capital round in 2022 has driven this expansion, and plans are underway for a planned $75 million Series C raise in the second part of CY 2024.
Khurana told Inc42 that the business, with additional testing for heavy metals and pesticides, among other things, on the products, was able to optimise its supply chain between farm and delivery homes in less than 12 hours.
By the end of the year, Otipy hopes to grow into cities like Bengaluru, Chennai, Hyderabad, and Bangalore. This is anticipated given that the business intends to secure Series C funding during the latter part of FY 2024.
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Khurana thinks the company’s ambition to expand its footprint throughout India will be strengthened by its cooperation with ONDC. Otipy wants to be there for its end users at several touchpoints through ONDC. Additionally, it will concentrate on purchasing in bulk straight from farmers and Farmer Producer Organisations (FPOs).
“Going beyond NCR has demonstrated the adaptability of our business strategy to multi-city operations. We anticipate growing our user base through the ONDC connection as we bring on board big buyer apps that have partnered with ONDC. By the end of the year, we hope to grow from the 1.5 lakh users we currently have each month to 10 lakh users, Khurana stated.
According to T. Koshy, MD and CEO of ONDC, “Otipy on the Open Network not only reinforces its commitment to fostering a sustainable and inclusive e-commerce framework but also stands to benefit from the extensive reach of the network.”
The business plans to start by integrating its platform with Paytm and PhonePe’s Pincode before moving on to other buyer platforms.
