Pluckk, a business-to-consumer fresh produce platform, has secured Rs 100 crore (approximately $11 million) in funding from Euro Gulf Investment. This new investment round follows a previous $10 million investment from the same investor last year, as reported by Entrackr.
The fresh capital infusion will be used to drive aggressive growth, service debenture interests, and meet corporate needs. Entrackr estimates the company’s valuation to reach about $58 million post-allotment. Founded in 2021, Pluckk focuses on delivering fresh, lifestyle-centric produce to consumers, offering trendy food options like vegan products, low-carb alternatives, and items promoting gut health and immunity.
Prior to this round, Pluckk had already secured $15 million, including a $5 million seed funding from Exponentia Ventures. The company has also made strategic acquisitions, such as KOOK, a DIY meal kit platform, for $1.3 million, and Upnourish, a nutrition brand, for $1.4 million. Despite doubling revenue to Rs 85 crore by March 2025, Pluckk has also seen losses widen to Rs 55 crore, reflecting the challenges in the competitive online fresh produce segment.
Pluckk competes with players like Gourmet Garden and Kisankonnect, and its latest investment underscores the tech-driven innovation in fresh produce delivery services. The market dynamics remain challenging, with other startups like Otipy, Deep Rooted, and Fraazo facing operational difficulties despite significant funding. Pluckk’s strategic funding decisions highlight the importance of technology in reshaping the food delivery landscape.
Source: Entrackr : Latest Posts