Organic Shop seeks 1.6 million USD investment - RNews1 Network

Organic Shop seeks 1.6 million USD investment

Jaipur : Organic shop has reported that the start-up venture is now looking at its second round of funding worth 1.6 million USD. This is with a view to pump in investments for its international business expansion plans, strengthen its Europe operations, and foray in private labelling along with launching offline operations. The startup has been growing at an incredible rate of 400% from 2013 as registered this year and grew its customer base 8 times.

Founder & CEO of Organic shop Manuj Terapanthi says, 'We are extremely optimistic about the organic industry and with our growth so far. The real sense of assurance has come from consumers while we almost have one new organic brand joining hands with us daily. Through this round of funding, we are looking for major expansions in offline retail of organics and introduction of our own premium organic brand – itsorgic. We are aiming at capturing the 60% market share of the overall online organic retail market in India'.

The venture that sells certified organic products, natural, herbal and bio organic cosmetics, food, health and wellness supplements and clothing and textiles from both national and international brands has now, very recently launched its ‘Organic Wedding Collection’which provides a filtered prodigious range of incredible organic products necessary at the time of wedding exclusively for bride and groom to be- With this, Organic Shop has very recently introduced its first web-exclusive commercial promotion video to further emphasize on and educate the organic consumers.

The global organic market which sized at 61 billion (US$) in 2012 and has been growing at a steady CAGR of 15%. In terms of revenue and customer acquisition, Organic Shop has grown manifold since past one year. While the average daily customers have grown 8 times, the average ticket size has also shot up to 3 times. The repeat customer has moved to 40% which is a testimony to the superlative shopping experience offered by the e-commerce startup.

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