At times when Ecommerce businesses are finding it tough to raise capital and generate profits, Jaipur-based online organic products marketplace Organic Shop has managed to score an undisclosed amount in a pre-Series A round from existing and a couple of new investors.
The investors, who participated in the current funding round, includes 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.
No further information has been revealed regarding the funding round. However, the company has said that it will use the fund to build its team, add more business verticals, and further boost its technology platform.
Manuj Terapanthi, Founder & CEO of Organic Shop.in, said,
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.
The Jaipur-based company was founded in 2011 by Manuj Terapanthi and had raised its first round in 2013 from RAIN (Rajasthan Angel Investor Network). It is a social aggregator and online organic retailer that aims at offering the largest collection of everything that’s organic to the Indian consumer. The company has plans of going beyond India as well, largely due to the fact that there lies a much larger scope of selling organic products in developed economies, as compared to Indian consumers.
Organic Shop is working with a vision to create global, transparent and trustworthy marketplaces for genuine organics and inspire passion in every human being for organics.
It offers a range of organic products, organic clothing, food, cosmetics and wellness products, textile products like yoga mats, towels & comforters, organic spices, green tea, grocery, organic cosmetics, herbal, etc.
Currently, the company features more than 11,000 SKU sourced from over 110 brands from India. Organic food and health supplements are the highest selling category with daily orders averaging at 50-60.
Commenting about the investment, Mahavir Pratap Sharma, Lead investor & Chairman, RAIN, said,
We’re very excited to be part of Organic Shop. 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.
As per the company, the organic industry is growing at 18% globally and is estimated to reach the size of $250 billion by 2020. On the other hand, Indian organic market size is approximately Rs. 6000 crore.
DISCLAIMER : Mahavir Pratap Sharma, Mr. Kamal Kothari, Mr. Vivek Nathani and Mr Yogesh Chaudhary are investors in Blue Box Media, the parent company which runs and manages The Tech Portal