https://layoffcheck.com/companies/otipy Layoff and WARN notices reported for Otipy. en-us https://layoffcheck.com/companies/otipy#2025-05 https://layoffcheck.com/companies/otipy#2025-05-349 Fri, 23 May 2025 12:00:00 GMT Otipy, a Delhi-NCR farm-to-fork grocery subscription startup, shut down entirely on May 17, 2025, leaving all 300 employees without jobs. CEO Varun Khurana told staff at a town hall that the startup could not proceed further with its business, citing a cash crunch after the company failed to close a $10 million Series B extension it had been pursuing. Otipy raised $44 million in total since its 2020 founding, and FY24 revenue reached roughly Rs 164 crore. But the rise of quick commerce, which grew from a $300 million market in FY22 to $7.1 billion by FY25, made its subscription model uncompetitive. Employees were not paid their final salaries, vendor payments were delayed, and customers were promised wallet refunds within 60 to 90 days.