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August 11, 2013

Deal Alert: Organic products e-tailer Organicshop.in raises capital from Rajasthan Angel Investor Network

Organic products e-tailer, Organicshop.in, has raised an angel funding of Rs 30 lakh from Rajasthan Angel Investor Network (RAIN). 13 investors from the network have picked up a total stake of 30% equity stake in the Jaipur-based Organicshop.in that works on a marketplace model and does not stock any inventory. It currently features more than 1300 products across various categories such as organic clothing, food, cosmetics and wellness. Founded in November 2012, it currently fufils 10-12 orders per day, with an average ticket size of Rs 500. The margins on organic products are 15-30% depending on the product category. It plans to launch its own private label brand “ITSORGIC” soon. The new funds will be invested in marketing, technology and customer experience and expansion into global markets. Organicshop.in is co-promoted by US-based Jaipur Inc, which runs Onlineorganicmart.com targeting the US market. 

Source: NextBigWhat
 
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