Funding Alert
Foodtech Startup Pluckk raises $5 million in Seed Round of funding
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ByTejika Bajaj | January 20, 2022
Foodtech startup Pluckk recently announced that it has raised a consolidated sum of $5 million in its seed round of funding led by Exponentia Ventures, a fund primarily focused upon backing emerging business ideas in the B2C and B2B space.
The company officials made a statement expressing that the recently infused funds will be deployed towards building the right team, enhancing technology as well as building an appropriate farm to fork infrastructure. Furthermore, a sizable portion of the funding will also be utilised to acquire an existing player in the FnV category- Indus Fresh.
Talking about the recent round of fundraise, Pratik Gupta, CEO and Co-Founder, Pluckk, said “The biggest consumer revolution we are witnessing today is that consumers not only want to enjoy eating but are also increasingly very careful on what they eat. Pluckk aims to be the brand of choice by providing the widest curated range of such lifestyle-oriented fresh produce. At the core Pluckk will work with farmers through its bespoke win-win program that focuses on farm practises to ensure residue free and traceable produce.”
Additionally, this fresh round of funding will be utilised to expand into key metro cities and garner a wider set of consumers in cities such as Bangalore, Mumbai, Gurugram, Pune as well as Hyderabad. The startup intends to drive traffic on its D2C platform as well as through other e-commerce platforms under its brand name.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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