The Funding
Pluckk, a direct-to-consumer (D2C) farm produce platform, has raised Rs 100 crore (approximately $10.8 million) from existing investor Euro Gulf Investment in an all-equity round, according to Tech-Economic Times. The funding brings Pluckk’s total capital raised to $26 million. Founder and Chief Executive Pratik Gupta stated that the company plans to use the capital for research and development of a new product range, to enhance its technology, and to expand its presence.
Funding Structure
The all-equity structure means the company is not taking on debt in this round. For a consumer-facing platform, this funding approach allows the company to direct capital toward product development, platform capabilities, and catalog expansion without the constraints of debt repayment schedules.
Planned Use of Capital
According to Tech-Economic Times, Pluckk’s new funding will support R&D for a new product range and technology enhancement. For a D2C produce platform, technology investments typically encompass systems that support ordering, inventory visibility, and fulfillment coordination. The company has not specified which particular components will be upgraded.
Total Funding to Date
With total funding now at $26 million, Pluckk has secured capital to pursue product and platform development. The company’s stated allocation of funds indicates a focus on R&D, technology, and expansion.
Source: Tech-Economic Times