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Exclusive: Otipy pilots electric carts to sell fruits and veggies offline

Entrackr · 1m

Exclusive: Otipy pilots electric carts to sell fruits and veggies offline Otipy, a farm-to-fork company, has introduced electric carts in Gurugram city as part of a pilot project to sell fruits and vegetables offline, sources aware of the development told Entrackr. According to sources, the company has been piloting approximately 15 carts in the city for the past 5-6 months. Based on the feedback received, it plans to deploy additional carts in the coming months. “Apart from fruits and veggies, it also plans to add daily essentials such as milk and bread,” said a person familiar with the development. The offline carts will operate in the morning between 6:30 am and 10 am and in the evening between 6:30 and 10 pm. "Otipy plans to organize the push carts through a franchise model. Currently, each cart generates daily sales of Rs 8,000-10,000 in fruits and vegetables, with most operating profitably,” said another source. According to sources, Otipy aims to deploy 5,000 to 7,000 such carts by 2026 in Delhi NCR and Mumbai. "With the franchise model, one can earn Rs 30,000 to 35,000 per month." Otipy operates a farm-to-fork delivery model by procuring directly from farmers and delivering fresh produce to consumers every morning. Currently, it operates in Delhi-NCR and Mumbai, with plans to launch in Hyderabad, Bengaluru, and Chennai. The Varun Khurana-led company has raised $44 million to date, including its $32 million Series B round led by Westbridge Capital in 2022. For the fiscal year ending in March 2024 (FY24), Otipy claims to register Rs 175 crore in topline. The firm targets Rs 500 crore in gross revenue in FY25 with EBITDA profitability.