Gangtok-based social commerce startup NE Origins founded by prominent entrepreneur Rewaj Chettri, has successfully raised funding at ~$2 million valuation with strong participation from strategic angel investors, including celebrated Indian footballer Bhaichung Bhutia and angel impact investors.
Announcing the infusion of fresh funds in the startup, founder Rewaj Chettri said: “Our aim is to showcase the Northeast in a way it has never been done before. Our products are a unique insight into the diversity of the 200+ tribes across these 8 states.”
“With this strategic investment and mentorship, we will be looking to build a strong online presence and improve the manufacturing and distribution network for the products from seed to store across India – looking to disrupt the nearly USD 6 billion Northeast region consumer economy and larger mainland markets,” he added.
With this round, the startup has become one of the first ventures in Sikkim to raise funding. The startup, which announced the funding development in early April, credits this accelerated growth and historic fundraise to the company’s selection in a special incubation programme by ALSiSAR Impact, a leading double bottom line and frontier market incubator across South Asia.
Commenting on the development, Anuj Sharma, founder of Alsisar Impact said: “We see NE Origins as a powerful example of an impact-driven and scalable venture from the Northeast that highlights the positive effects of entrepreneurship in the region through its unique social commerce platform. Our mission with NE Origins is simple, to make the Northeast a ‘producer economy’, and champion regional culture and diversity while providing countless livelihood opportunities.”
Acclaimed footballer Bhaichung Bhutia said: “I am excited about Rewaj and his team and was drawn in by the larger vision they shared about NE Origins and the role it could play in the Indian ecosystem. As a longstanding public representative of the Northeast on the national and international stage, I believe that Rewaj’s venture can help to mainstream our heritage, culture, and history through his commitment to thoughtful community commerce.”
NE Origins is the brainchild of Rewaj Chettri, a first-generation entrepreneur with close to 30+ ventures under his belt.
NE Origins aims to make unique products sourced from the Northeast India household names. From products like Naga king chili from Nagaland, black rice from Manipur, 100% original Darjeeling tea, to pure Lakadong turmeric from Meghalaya, and original Nagaland forest honey, they aim to provide a unique buying experience for customers across India.