Pluckk To Raise Rs 85 Cr In Series A Round

Pluckk, a farm-to-fork B2C food-tech startup, is set to raise Rs 85 crore (around $10 Mn) in its Series A funding round led by Euro Gulf Investment. 

This is first major funding in three years which shows Pluckk's plan for rapid expansion and diversification into the fresh produce and health space.

Regulatory filings show that the board approved issuing 3,023 Series A preference shares at INR 2,81,383 each. 

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The funds will be used to grow operations, pay interest on debentures and support other business initiatives.

In 2023, Bollywood actor Kareena Kapoor Khan invested an undisclosed amount in Pluckk.

In September 2024, Pluckk bought the D2C nutrition brand Upnourish for $1.4 million to expand its product range and grow its nutrition segment.

About Pluckk 

Founded in 2021 by Prateek Gupta, Pluckk offers fresh fruits and vegetables in over 15 categories, including essentials, exotic produce, hydroponics and ready-to-use mixes. It has over 400 products and operates in Mumbai, Delhi and Bengaluru.

Along with its own app, Pluckk sells on e-commerce and quick-commerce platforms like Amazon, Swiggy, Dunzo, Zepto and Reliance Signature Stores.

In FY24, Pluckk's revenue grew 25.6% to INR 42.8 crore from INR 34 crore in FY23. However, it reported a loss of INR 41.03 crore. 

The company aims to recover and is targeting an annual revenue run rate of INR 200 crore by the end of this fiscal year.

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