Claris Capital is that the wholly-owned subsidiary of pharmaceutical firm Claris Life sciences.
WOTU can primarily use the funds to expand its operations in an exceedingly new town, Dhruv Sawhney, co-founder and chief government of the venture told VCCircle, while not divulging the timeline of the planned growth.
“Currently, we have a tendency to area unit operational in metropolis. Our next port of decision would probably be either urban center, urban center or Hyderabad. we have a tendency to area unit still undecided thereon,” Sawhney additional.
The Bangalore-based firm had antecedently raised AN unrevealed add in funding from Mumbai-based early-stage investment trust Kae Capital in late 2016, per media reports.
WOTU, that is AN word form for ‘We Organize The Unorganized’, was based in 2015 by former Paypal government Sawhney.
The platform basically is a commerce portal for food and drinkable commodities like fruits, vegetables, pulses, grains, meat and poultry.
WOTU, operated by Wotu Technologies Pvt Ltd, operates on AN inventory-led model. It procures its provides directly from farmers and producers, exploitation its own inventory prediction mechanism, and stores them in its warehouses.
The company’s client base primarily contains of standalone restaurants, pubs, large-scale hotels and food chains.
“We involve ourselves within the walk delivery and fulfillment to the top customers yet through our supply partners,” Sawhney additional.
While Sawhney failed to disclose details concerning the storage capability, he same that the warehouse was sufficiently big to handle the availability wants for around five hundred restaurants in metropolis.
The company’s customers embody Swiggy, citrus tree Hotels, Watsons, geographical area Grill, The loaf, bottle Opener Wala and Davanam Sarovar porch Suites, data on the market on the company’s web site unconcealed.
An physical science engineer by qualification, Sawhney was antecedently the director of latest business initiatives at payments services supplier PayPal.
A number of ventures within the broader B2B e-commerce area raised funding in recent months. In Nov last year, Bangalore-based Krishi Hub, an internet B2B platform that sells vegetables on to institutional consumers, raised an unrevealed quantity from Villgro Innovation Fund along side a couple of angel investors and HNIs, media reports explicit .
In Sept 2017, Power2SME, an internet shopping for hub for tiny and medium enterprises, raised a further $26 million (Rs 166 crore) in its Series E funding spherical from existing investors Inventus Capital Partners, Accel Partners, Kalaari Capital, and Nandan Nilekani .
In the same month, Chennai-based Aahaa Stores Pvt. Ltd, an internet B2B store for workplace provides, raised $1 million (Rs vi.4 crore) in its second pre-Series A funding spherical crystal rectifier by YourNest Angel Fund.
In August 2017, simply get Live Enterprise Pvt. Ltd, AN e-distributor that connects shopkeepers with shopper brands, raised $100 million (Rs 640 crore) asynchronous B funding from Dubai-based investment banking firm Ali Cloud Investment.
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