Food tech association Pluckk posts $5 million annual revenue run rate in October

Pluck, a Fruveggie Tech Pvt Ltd.-owned fresh food tech venture has clocked record $5 million in revenue in a short span of time since its launch in January 2022, making it one of the most D2C brands fast growing in the fruit and vegetable category.

The increase in revenue was driven by the launch of the Pluckk app in April, which contributed to its stellar growth with 100,000 downloads in just three months. The company also announced its expansion in Delhi-NCR, where the pilot has already started in Gurugram and future plans include expansion in Pune and Hyderabad by the end of FY23-24. Tie-ups with major e-commerce platforms like Amazon, Dunzo and Swiggy signature stores, Zepto and Reliance have been a major determinant of the growth of this young start-up. Pluckk has now attracted over 100,000 customers, works with a network of over 1000 farmers and offers a range of over 250 essentials, exotics and pan-ready food kits. The company plans to raise funds in the next 12 to 18 months and enter newer geographies.

Pratik Gupta, CEO and Co-Founder of Pluckk: “Today’s growing urban Indian consumer is looking at health and lifestyle benefits in everything they consume. About a third of the online fresh produce market will be driven by lifestyle brands in the next 5 years. We at Pluckk have identified this rapidly growing unaddressed white space and aim to provide customers with the highest quality fresh food options in formats that will complement their lifestyle needs. We are extremely pleased to witness the successful response we have received in growing from USD 1m to 5m in just about nine months of operations.”

Pluckk’s key differentiator is offering customers the highest quality – safe, hygienic, ozone-washed, traceable, ethically grown farm-to-fork, fresh food options in formats that solve lifestyle needs. The company, which recently raised $5 million in seed capital funding from Exponentia Ventures, has leveraged that capital by positioning itself as a uniquely differentiated brand in the fresh fruit sector.

Pluckk’s proposal is centered on global food trends, from vegan, alternative carbohydrates, gut health, immunity to plant-based nutrition to prevent diabetes and mental health. The platform offers new and unique categories, making it the most trusted destination for FnV, including meal kits, low-carb meal replacements, chunks, salads, hydroponic, organic, stuffed, etc.

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