Jaipur based Organic shop raises INR 30 lakh angel investment from RAIN, plans for its own label and global expansion
Jaipur-based Organic shop - an online marketplace for organic products across categories like clothing, food, cosmetic including health and wellness, has raised INR 30 lakh angel investment from Rajasthan Angel Innovators Network (RAIN). Following the investment Mahavir Pratap Sharma will join the startup board as director.
Speaking to Yourstory, Manuj Terapanthi, Founder and CEO, Organicshop said “We have divested 30% equity for the investment and fund will be used for branding, marketing, global expansion, developing own label and enhancing consumer experience”. The startup offers clothing (bottom and top wear including T-shirts, trousers, socks etc.) for men, women and infants.At present the company receives over 450 orders monthly with average ticketsize of INR 500. Established in June 2011 - Organic shop.in is a joint venture of Jaipur INC. Jaipur INC is Delaware, USA based company dealing into online retail business of green products. Organic shop plans to venture into private label named Itsorgic in categories like textile and food.
Importantly, this investment has been the first for the Jaipur based RAIN, which is a 23-people network looking to invest and mentor startups only from Rajasthan. Currently, Organic shop has a four-member team, however it’s looking to hire more people on business development front. Besides B2C segment, the startup will also foray into B2B space (bulk buying).