Subscription-based grocery provider Otipy shuts shop; impacts 300 employees

Subscription-based grocery provider Otipy shut operations last week, impacting around 300 employees in addition to gig workers, including delivery partners, said people aware of the development. Founder and CEO Varun Khurana is understood to have told the company’s employees about the decision last week at a townhall meeting.

The WestBridge Capital-backed startup has reportedly withheld salary payments to employees as well as delayed payments to vendors.

This development comes amid a downturn for grocery subscription services, which have struggled…