Organicshop.in, a marketplace for organic products in India, has raised an undisclosed sum in pre series A round of funding. The round is participated by three existing investors Mr. Mahavir Pratap Sharma, Mr. Kamal Kothari & Mr. H C Jain and two new investors Mr. Vivek Nathani and Mr Yogesh Chaudhary.
While the terms of the transaction were not disclosed, the latest round will see the Jaipur based company use the proceeds towards team build-up, adding more business lines, further boosting its technology platform, as well as focus on creating a more immersive consumer engagement.
“The proceeds will be primarily used in developing new business lines so as to reach out to customers in India and globally in a better way.” said Manuj Terapanthi, Founder & CEO of Organicshop.in
Organic Shop was founded in 2011 and raised the first round in 2013 from RAIN (Rajasthan Angel Investor Network). Now, company features more than 11,000 SKU sourced from 110+ brands from India. Organic food and health supplements are the highest selling category with daily orders averaging at 50-60.
“We’re very excited to be part of Organicshop.in. We hope that through our investment and ongoing support, we’ll help them cement their position in India, as the destination for all organic products related information and transactions, and grow into new markets regionally and globally,” said Mahavir Pratap Sharma, Lead investor & Chairman, RAIN.
Globally, organic Industry is growing at 18% and estimated size is $250 billion by 2020. With the growing demand and awareness for organic products, there is a huge confidence in the farmers and other stakeholders to shift to organic produce. USA being the biggest market for organics. Unfortunately, India does not feature in top 10 global markets.
Indian organic market size is approx. 6000 crore but the major contribution is from exports. But, with the growing demands, we are seeing lot of companies entering the market with retail brands.