In a strategic move to diversify its product mix, fresh fruits and vegetables platform Pluckk has acquired D2C nutrition brand Upnourish for $1.4 Mn.
Expansion͏͏ into͏͏ Nutrition͏͏ Vertical:
Pluckk͏͏ stated͏͏ that͏͏ the͏͏ acquisition͏͏ will͏͏ allow͏͏ it͏͏ to͏͏ expand͏͏ its͏͏ offerings͏͏ and͏͏ prioritise͏͏ the͏͏ “growth͏͏ of͏͏ a͏͏ new͏͏ vertical͏͏ focused͏͏ on͏͏ nutrition.”
Continue͏͏ Exploring:͏͏ Foodtech͏͏ startup͏͏ Pluckk targets͏͏ INR͏͏ 200͏͏ Cr͏͏ ARR͏͏ by͏͏ fiscal͏͏ year-end,͏͏ plans͏͏ expansion͏͏ into͏͏ new͏͏ categories
Founded͏͏ in͏͏ 2021͏͏ by͏͏ husband-and-wife͏͏ duo͏͏ Aayushi͏͏ and͏͏ Kuonal͏͏ Lakhpati,͏͏ Upnourish͏͏ offers͏͏ on-the-go͏͏ meals͏͏ like͏͏ smoothies,͏͏ soups,͏͏ and͏͏ bars,͏͏ along͏͏ with͏͏ personalised͏͏ nutrition͏͏ plans.
Pluckk͏͏ founder͏͏ and͏͏ CEO͏͏ Pratik͏͏ Gupta͏͏ commented͏͏ on͏͏ the͏͏ acquisition,͏͏ saying,͏͏ “We͏͏ are͏͏ pleased͏͏ to͏͏ welcome͏͏ Upnourish͏͏ to͏͏ the͏͏ Pluckk͏͏ family.͏͏ This͏͏ move͏͏ directly͏͏ benefits͏͏ our͏͏ customers,͏͏ as͏͏ their͏͏ products͏͏ have͏͏ made͏͏ it͏͏ easier͏͏ to͏͏ meet͏͏ on-the-go͏͏ nutrition͏͏ needs͏͏ with͏͏ their͏͏ meal͏͏ replacement͏͏ smoothies,͏͏ soups,͏͏ and͏͏ bars.”
Founded͏͏ in͏͏ 2021͏͏ by͏͏ Gupta,͏͏ Pluckk͏͏ operates͏͏ on͏͏ a͏͏ ‘farm-to-table’͏͏ concept,͏͏ offering͏͏ a͏͏ range͏͏ of͏͏ products͏͏ including͏͏ fruits,͏͏ vegetables,͏͏ meal͏͏ kits,͏͏ juices,͏͏ dips,͏͏ soups,͏͏ smoothies,͏͏ and͏͏ salads.͏͏ The͏͏ company͏͏ has͏͏ a͏͏ presence͏͏ in͏͏ Delhi,͏͏ Mumbai,͏͏ Bengaluru,͏͏ and͏͏ Pune,͏͏ selling͏͏ its͏͏ products͏͏ through͏͏ its͏͏ own͏͏ app͏͏ and͏͏ website,͏͏ as͏͏ well͏͏ as͏͏ on͏͏ platforms͏͏ such͏͏ as͏͏ Amazon,͏͏ Swiggy͏͏ Instamart,͏͏ Zepto,͏͏ Blinkit,͏͏ and͏͏ Flipkart͏͏ Minutes.
Pluckk͏͏ delivers͏͏ over͏͏ 20͏͏ lakh͏͏ products͏͏ each͏͏ month͏͏ to͏͏ 5͏͏ lakh͏͏ households.
Upnourish͏͏ cofounder͏͏ and͏͏ business͏͏ head͏͏ Kuonal͏͏ Lakhapati͏͏ commented͏͏ on͏͏ the͏͏ acquisition,͏͏ stating,͏͏ “We͏͏ are͏͏ excited͏͏ to͏͏ partner͏͏ with͏͏ Pluckk͏͏ in͏͏ this͏͏ new͏͏ chapter.͏͏ Pluckk’s͏͏ dedication͏͏ to͏͏ providing͏͏ clean,͏͏ fresh,͏͏ high-quality͏͏ produce,͏͏ along͏͏ with͏͏ Upnourish’s͏͏ innovative͏͏ and͏͏ convenient͏͏ nutritional͏͏ products,͏͏ positions͏͏ us͏͏ to͏͏ help͏͏ people͏͏ become͏͏ leaner,͏͏ fitter,͏͏ and͏͏ bolder.”
Last͏͏ year,͏͏ Pluckk͏͏ secured͏͏ funding͏͏ from͏͏ Bollywood͏͏ actor͏͏ Kareena͏͏ Kapoor͏͏ Khan,͏͏ though͏͏ the͏͏ amount͏͏ remains͏͏ undisclosed.͏͏ The͏͏ company͏͏ is͏͏ also͏͏ backed͏͏ by͏͏ Exponentia͏͏ Ventures.
Continue͏͏ Exploring:͏͏ Bollywood͏͏ actress͏͏ Kareena͏͏ Kapoor͏͏ Khan͏͏ backs͏͏ D2C͏͏ startup͏͏ Pluckk as͏͏ brand͏͏ ambassador͏͏ and͏͏ investor
Health-Conscious͏͏ D2C͏͏ Market͏͏ Growth:
The͏͏ acquisition͏͏ comes͏͏ as͏͏ the͏͏ Indian͏͏ health-focused͏͏ D2C͏͏ space͏͏ experiences͏͏ a͏͏ surge͏͏ of͏͏ new͏͏ players,͏͏ driven͏͏ by͏͏ consumers’͏͏ increasing͏͏ health͏͏ consciousness͏͏ in͏͏ the͏͏ aftermath͏͏ of͏͏ the͏͏ pandemic.
The͏͏ rise͏͏ in͏͏ smartphone͏͏ penetration͏͏ and͏͏ affordable͏͏ internet͏͏ has͏͏ significantly͏͏ boosted͏͏ India’s͏͏ D2C͏͏ economy.͏͏ According͏͏ to͏͏ a͏͏ report,͏͏ the͏͏ homegrown͏͏ D2C͏͏ market͏͏ is͏͏ expected͏͏ to͏͏ reach͏͏ a͏͏ size͏͏ of͏͏ $100͏͏ billion͏͏ by͏͏ 2025.
Promising͏͏ Future͏͏ for͏͏ F&B͏͏ Industry:
Within͏͏ this͏͏ sector,͏͏ the͏͏ food͏͏ and͏͏ beverage͏͏ (F&B)͏͏ industry͏͏ is͏͏ projected͏͏ to͏͏ grow͏͏ to͏͏ a͏͏ size͏͏ of͏͏ $68͏͏ billion͏͏ by͏͏ 2030,͏͏ according͏͏ to͏͏ another͏͏ report.
Just͏͏ last͏͏ week,͏͏ D2C͏͏ bread͏͏ brand͏͏ The͏͏ Health͏͏ Factory͏͏ raised͏͏ $3.5͏͏ million͏͏ (INR͏͏ 29.2͏͏ crore)͏͏ in͏͏ a͏͏ seed͏͏ funding͏͏ round͏͏ led͏͏ by͏͏ Peak͏͏ XV͏͏ Partners’͏͏ accelerator͏͏ programme,͏͏ Surge.͏͏ Earlier,͏͏ D2C͏͏ health͏͏ food͏͏ brand͏͏ Alpino͏͏ secured͏͏ $1.2͏͏ million͏͏ in͏͏ funding͏͏ from͏͏ actor͏͏ Shilpa͏͏ Shetty͏͏ and͏͏ other͏͏ angel͏͏ investors.
