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The Kareena Kapoor-backed startup’s board approved a proposal to issue 3,023 Series A CCPS at a face value of INR 10 and a premium of INR 2.81 Lakh each
Pluck plans to deploy the fresh capital to fuel its growth plans and for repayment of inter-corporate deposits
Founded in 2021, Pluckk sells fresh fruits and vegetables across more than 15 categories, including essentials, exotics, hydroponics, and cuts, mixes
D2C fruits and vegetables delivery startup Pluckk
As per the startup’s regulatory filings accessed by Inc42, its board approved a proposal to issue 3,023 Series A compulsorily convertible preference shares (CCPS) at a face value of INR 10 and a premium of INR 2.81 Lakh each on March 11.
The Mumbai-based startup plans to deploy the fresh capital to fuel its growth plans and for repayment of inter-corporate deposits (ICDs)
The development was first reported by Entrackr.
Founded in 2021 by Prateek Gupta, Pluckk sells fresh fruits and vegetables across more than 15 categories, including essentials, exotics, hydroponics, and cuts, mixes. With more than 400 products on its platform, the startup currently operates in Mumbai, Delhi, and Bengaluru.
Besides its own app, it also sells the fresh produce on ecommerce as well as quick commerce platforms such as Amazon, Swiggy, Dunzo, Zepto and Reliance Signature Stores.
The startup last raised an undisclosed amount of funding from Bollywood actor Kareena Kapoor Khan in 2023. In September 2024, Pluckk acquired D2C nutrition brand Upnourish in a $1.4 Mn deal to expand its offerings and scale up its “nutrition” vertical.
India’s $44 Bn Fruits And Vegetables Market
India is the second largest producer of fruits and vegetables in the world, with the market pegged at INR 18,000+ Cr. However, reports estimate that 18% of fruits and vegetables are wasted annually in the country as the sector lacks coordination at different levels such as farmers and end consumers.
As a result, startups like Fresh From Farm, MyMandi and Handpickd have emerged with an aim to bridge this gap. These startups are solving deeper issues in the supply chain, including procurement, sorting, grading, deliveries while partnering with farmers.
Not just this, the rise of quick commerce has also seen giants like Blinkit, Swiggy Instamart and Zepto deliver fresh fruits and vegetables directly to customers within 10 minutes.
