The intercity food delivery startup, JustMyRoots, has successfully acquired The State Plate (TSP), a company specializing in non-perishable packaged foods. This strategic move is a crucial step in JustMyRoots’ overarching strategy to broaden its footprint in the nationwide packaged intercity food market.
TSP made its debut on Season 1 of Shark Tank India, where it secured funding from Peyush Bensal, the CEO of Lenskart. Additionally, the company has successfully secured pre-seed capital from the venture capital fund Antler India, valuing it at approximately $2 million.
As per the agreement, Muskaan Sancheti and Raghav Jhawar, the Founders of TSP, will seamlessly merge into the JustMyRoots team and retain their roles in overseeing the business operations.
“JustMyRoots has always been committed to redefining intercity food delivery in India and this acquisition represents a significant stride toward that vision,” said Samiran Sengupta, CEO at JustMyRoots.
Sourav Ganguly, the former Indian cricketer, has recently acquired a minority stake in JustMyRoots.
Read More: Sourav Ganguly acquires stake in food delivery startup JustMyRoots, signs endorsement deal
