Exclusive: Pluckk set to raise Rs 100 Cr from Euro Gulf Investment

Business-to-consumer fresh produce platform Pluckk is all set to raise Rs 100 crore (approximately $11 million) in a new funding round from existing investor Euro Gulf Investment. 

This round comes after Euro Gulf Investments’ $10 million investment in March last year, as exclusively reported by Entrackr. However, the company has not publicly announced the round yet.

The board at Pluckk has passed a special resolution to issue 3,471 Series C CCPS at an issue price of Rs 2,88,112 each to raise Rs 100 crore or $11 million, its filings accessed from the Registrar of Companies show.

The filings added that the fresh proceeds will be used to drive aggressive growth, service interest on debentures, and meet other corporate requirements. According to Entrackr’s estimates, the company’s valuation is expected to reach around $58 million post-allotment.

Founded in 2021 by Pratik Gupta, Pluckk operates a farm-to-fork platform delivering fresh, lifestyle-focused produce to consumers. The company also offers trendy food options, including vegan products, low-carb alternatives, and items positioned around gut health and immunity.

Prior to this round, the company had secured $15 million to date including its $5 million seed funding from Exponentia Ventures. Following that, it acquired the DIY meal kit platform KOOK for $1.3 million. Last year, Pluckk acquired the nutrition brand Upnourish for $1.4 million.

For the fiscal year ended March 2025, the Mumbai-based company’s revenue doubled to Rs 85 crore. However, its losses also widened to Rs 55 crore in the last fiscal year from Rs 41 crore in FY24.

Pluckk competed with players such as Gourmet Garden and Kisankonnect in the online fresh produce segment. At the same time, the space saw exits from funded startups including Otipy, Deep Rooted, and Fraazo, which shut down operations despite significant capital raised, reflecting the challenges in building scale in the category.