Debt

Debt financing

Fresh produce deliverer Otipy raises $2-M from Nuvama

Entrackr   Otipy  

Gurugram-based farm-to-fork company Otipy has raised USD 2 million in venture debt from Nuvama Asset Management Ltd. This raise comes ahead of its USD 10 million equity round.Founded in 2020 by Varun Khurana, Otipy procures fresh produce directly from farmers and delivers to consumers every morning. It currently operates in Delhi-NCR and Mumbai, and plans to launch in Hyderabad, Bengaluru, and Chennai. Recently, Otipy introduced electric carts in Gurugram as part of a pilot project to sell fruits and vegetables offline and plans to expand its services to Mumbai and other cities.