nutritapKGP alumni founded retail tech startup, NutriTap, raises $1.5M in funding

The Economic Times-Tech (May 10, 2022)

Retail tech startup NutriTap raises $1.5 million in funding from Venture Catalysts, others

Pictured L to R: Rajesh Kumar ('04) and Priyank Tewari ('07)

                                                                                                                                                                                  

                                                                                                                                                                                                                                                                                  

Synopsis
The capital raised will be used to ramp up in-house technology, invest in R&D and grow presence across sectors and cities.

Mumbai: Retail tech startup NutriTap Technologies said it has raised about $1.5 million from Venture Catalysts, LetsVenture, IK Capital, Elysian Fintech and a few marquee HNIs from the retail industry.

The capital raised will be used to ramp up in-house technology, invest in R&D and grow presence across sectors and cities.

NutriTap, founded in 2018 by IIT Kharagpur alumni Rajesh Kumar ('04) and Priyank Tewari ('07), creates alternate retail channels for brands to do direct-to-customer (D2C) retail. The startup's full-stack retail expertise includes smart kiosk technology and simplified distribution mechanism.

"In India, kiosk-based retail is now accepted as an alternate mode of retailing. To make sure that customers get the right retailing solution, you need to have the right technology to do that. At NutriTap, we are building the technology to address this alternate channel market which stands at $10 billion," said Rajesh Kumar, cofounder of NutriTap. (Read More) (NutriTap's website)