Euro Gulf Investment Backs Pluckk with ₹100 Crore Funding

Mumbai-based D2C farm-to-fork platform Pluckk has raised ₹100 crore, approximately $10.8 million, in a fresh funding round from existing investor Euro Gulf Investment. The development was earlier reported by Entrackr in February.

The newly infused capital will be used to scale operations, expand into new markets, and strengthen the company’s presence in the competitive fresh produce and food tech segment.

Expansion Plans and Business Growth

Founded in 2021 by Pratik Gupta, Pluckk operates a farm-to-fork platform delivering fresh produce and lifestyle-focused food products directly to consumers. The company has built its brand around health-driven offerings, including vegan products, low-carb alternatives, and foods targeting gut health and immunity.

Currently operational in 50 cities, the Mumbai-based startup has also partnered with six quick commerce platforms. Quick commerce contributes nearly 60 to 65% of its business, while its direct-to-consumer channel accounts for around 10 to 15%, as per reports.

Funding History and Strategic Acquisitions

Before this round, Pluckk had raised $15 million, including a $5 million seed investment from Exponentia Ventures. The company has also pursued inorganic growth through acquisitions, buying DIY meal kit platform KOOK for $1.3 million and nutrition brand Upnourish for $1.4 million.

These strategic moves have helped Pluckk expand its portfolio and tap into evolving consumer preferences in the health and wellness food segment.

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Financial Performance and Market Competition

Pluckk has demonstrated strong revenue growth, with its revenue doubling to ₹85 crore in the fiscal year ending March 2025. However, the company’s losses widened to ₹55 crore from ₹41 crore in the previous fiscal, reflecting the high cost of expansion.

The startup competes with players such as Gourmet Garden and Kisankonnect in the online fresh produce space. The segment has also seen the exit of several funded startups, including Otipy, Deep Rooted, and Fraazo, underscoring the challenges in building a sustainable business in this category.