Pluckk Secures ₹100 Crore from Existing Investor
D2C farm produce platform Pluckk has raised ₹100 crore (approximately $10.8 million) in a funding round from its existing backer Euro Gulf Investment.
The fresh capital comes as the company looks to scale its operations and strengthen its presence in India’s competitive fresh produce and food-tech segment.
Building a Farm-to-Fork Consumer Brand
Founded in 2021 by Pratik Gupta, Pluckk operates a farm-to-fork model focused on delivering fresh, lifestyle-oriented food products.
The platform offers:
- Fresh fruits and vegetables
- Vegan and plant-based options
- Low-carb and health-focused products
- Items targeting gut health and immunity
This positioning aligns with growing consumer demand for health-conscious and premium food choices.
Growth Through Acquisitions
Pluckk has expanded its capabilities through strategic acquisitions.
The company previously acquired:
- KOOK for $1.3 million
- Upnourish for $1.4 million
These acquisitions helped the company diversify its offerings and strengthen its position in the broader food-tech ecosystem.
Strong Presence Across Cities and Platforms
Pluckk has built a wide distribution network:
- Operational in 50 cities across India
- Available on six quick commerce platforms
Quick commerce has emerged as a major growth driver for the company.
Revenue Contribution:
- Quick commerce: 60–65%
- Direct-to-consumer (D2C): 10–15%
This highlights the increasing importance of instant delivery platforms in scaling food-tech businesses.
Financial Performance and Challenges
Pluckk has demonstrated strong revenue growth, but profitability remains a challenge.
Key Financial Highlights:
- FY25 Revenue: ₹85 crore (doubled year-on-year)
- FY25 Loss: ₹55 crore (up from ₹41 crore in FY24)
While growth is encouraging, rising losses indicate ongoing investments in expansion and operations.
Competitive Landscape
The online fresh produce segment in India is highly competitive.
Pluckk competes with players such as:
- Gourmet Garden
- Kisankonnect
At the same time, the sector has seen exits of several funded startups, including:
- Otipy
- Deep Rooted
- Fraazo
This underscores the challenges of scaling sustainably in the fresh produce space.
Use of Funds
The newly raised capital will be used to:
- Expand operations across markets
- Strengthen supply chain capabilities
- Enhance product offerings
- Improve market positioning
The focus remains on building a scalable and differentiated brand in a competitive segment.
Final Thoughts
Pluckk’s ₹100 crore funding round reflects continued investor confidence in the farm-to-fork and food-tech model, despite challenges in the sector.
With strong growth, expanding distribution, and a focus on health-driven products, the company is well-positioned to capitalize on changing consumer preferences.
However, achieving profitability while maintaining growth will be critical for long-term success in an increasingly competitive market.
