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Venture Capital | 12 August 2013

Rajasthan Angel Investor Network Invests Into OrganicShop

by Tilak Devadiga
Rajasthan Angel Investor Network Invests Into OrganicShop
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Rajasthan Angel Investor Network has made their debut investment of R30 Lacs in Organic products e-retailer – OrganicShop.in. 13 investors from the network have made the investment for a equity share of 30% valuing the startup at a crore rupees.

The investment made by the group would be utilized for international expansion, branding, technology and enhacing customer experience. With this investment Mahavir Pratap Sharma joins the board of organic shop.

The jaipur based startup was established in June 2011 and offers branded and own label product lines across organic clothing, food, cosmetics and wellness products. The product range includes yoga mats, towels, comforters, organic spices, green tea, grocery, organic cosmetics, herbal and health products. It currently features about 26 brands and 1300 products.

The company was founded by Manuj Terapanthi, a member of TiE Rajasthan, and is a JV with US based online retailer of green products - Jaipur Inc.

The website facilitates purchase of organic products from anywhere in India and develops standard processes in identifying certified organic products.
The company works on a marketplace model and does not stock investory . It currently receives 10-12 orders per day with an average ticket size of R500, It ships products all across India for free on minimum order of R100.

The 4 member team which runs the startup plans to expand its team size and foray into Europe and Southeast Asian markets. The startup also has a portal called Onlineorganicmart.com for US, which promotes green products.

Rajasthan Angel Investor Network (RAIN) is a group of Angel investors in Jaipur investing in early stage businesses, in any domain driven by technology or services with potential of high scalability. The 23-people network looks to invest and mentor startups. This being its first investment afterit started.

Other recent activity in e-retail space;

  • E-retailer – Cbazaar was planning to raise Series B round of investment to drive expansion.
  • IndiaOrders had received funding from Vijay Group of an undisclosed amount.
  • BCCL's Springboard fund had made an investment in online grocery supermarket - LocalBanya

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