Thursday, June 13, 2024
Outlook.com
Outlook India
Outlook Business

Food-Tech Venture Pluckk Records $5 Million Annualised Revenue Run Rate in October

Pluckk claims to work with a network of more than 1000 farmers and offers a range of over 250 products of essentials, exotics and pan-ready meal kits

Food-Tech Venture Pluckk Records $5 Million Annualised Revenue Run Rate in October
Pixabay
POSTED ON November 28, 2022 5:20 PM

Pluckk, Mumbai-based farm-to-fork fruit and vegetable player clocked a $5 million annualised revenue run rate in October, making it one of the fastest-growing D2C (direct-to-consumer) brands in the fruit and vegetable category, the company said on Monday.

Since its launch in January this year, Pluckk, the foot-tech venture owned by Fruveggie Tech Pv Ltd - has seen its customer base cross the 1,00,000 mark, the company said in a statement.

After Mumbai and Bengaluru, it is planning expansion in Delhi NCR and would go to Pune and Hyderabad next year.

"Tie-ups with major e commerce platforms like Amazon, Dunzo and Swiggy, Zepto and Reliance signature stores have been a major driving factor to the growth," the statement said.

Pluckk works with a network of  more than 1000 farmers and offers a range of over 250 products of essentials, exotics and pan-ready meal kits.

The company has plans to raise funding in the next 12 to 18 months and enter into newer geographies, it said without giving details.

Pratik Gupta, CEO and co-founder of Pluckk said, "The urban Indian upwardly mobile consumer today looks at health and lifestyle benefits in everything they consume. Around one-third of the online fresh produce, the market is going to be driven by lifestyle-oriented brands in the next 5 years."

 "We at Pluckk identified this fast-growing unaddressed white space and aim to provide customers with the highest quality fresh food options in formats which will complement their lifestyle needs. We are extremely delighted to witness the successful response we have received by growing from $1 million to $5 million in just around nine months of our operations".

Pluckk's differentiator, according to the statement, is quality-safe, hygienic, ozone-washed, traceable, ethically grown farm-to-fork fresh food options in formats that solve lifestyle needs.

The company recently raised $5 million in seed capital funding from Exponentia Ventures.
 

  • Related Articles

    With this agreement, Korean start-ups will get the opportunity to access the Indian markets

    SIC-IIT Kanpur Signs Agreement With Korea Start-Up Forum

    Rebel Foods is a food tech company that owns brands like Faasos and Behrouz Biryani

    Rebel Foods Invests In Hyderabad-Based QSR Chain Zomoz

    The workplace space provider currently managing 5 million square feet, which can accommodate 45,000-50,000 people

    Table Space Raises $300 Million From Hill House Capital: Report