Digital Commerce Platform OTO Secures 10 Mn From Cricketer KL Rahul Others
Summary
The newly acquired funds will be strategically utilised to expand OTOs presence across over 30 citiesOTO, a digital commerce platform, announced on Tuesday that it has successfully raised USD 10 million (approximately Rs 83 crore) from a group of investors, including cricketer K L Rahul.The funding round was spearheaded by GMO Venture Partners, with contributions from Turbostart, cricketer K L Rahul, and several family offices, along with existing investors Prime Venture Partners, Matrix Partners, and 9Unicorns funds, OTO disclosed.According to OTO, the primary objective of this fresh investment is to expand its reach to more than 30 cities and to reinforce its existing partnerships.The newly acquired funds will be strategically utilised to expand OTOs presence across over 30 cities, facilitate the transition to electric vehicles, and strengthen existing partnerships, it further elaborated.