Digital lifestyle brand Pluckk has announced its acquisition of Upnourish, a burgeoning nutrition brand in India, in a deal valued at $1.4 million. This strategic move is part of Pluckk’s ongoing efforts to expand its footprint in the nutrition sector and cater to the growing demand for health-focused food options.
Expanding into the Nutrition Market
The acquisition comes at a pivotal moment, with India’s share in the global nutrition market expected to rise from a mere 2% to an impressive 12% by 2029. This growth presents a significant opportunity for Pluckk to capitalize on emerging trends in personalized nutrition and health-conscious eating.
Pratik Gupta, CEO of Pluckk, expressed enthusiasm about the acquisition, stating, “By adding a nutrition dimension, we’re taking our commitment to providing the best quality fresh food to Pluckk’s customers to the next level.” This reflects Pluckk’s vision to not just offer fresh produce but to integrate nutrition into its core offerings.
Upnourish’s Unique Value Proposition
Upnourish, a venture by 23BMI Life Sciences Pvt Ltd, specializes in personalized nutrition plans and meal replacement products, including smoothies, soups, and bars. The brand targets various health concerns, such as weight management, PCOD (Polycystic Ovary Syndrome), diabetes, and high cholesterol, making it an ideal fit for Pluckk’s expansion plans.
Aayushi Lakhapati, chief nutritionist and co-founder of Upnourish, highlighted the synergy between the two brands, stating, “With Pluckk’s commitment to clean and fresh produce, Upnourish will elevate its offerings, enabling holistic health for a much larger audience.”
Revolutionizing the Farm-to-Table Model
Pluckk aims to disrupt the traditional food supply chain through its innovative farm-to-table model. By sourcing fresh produce directly from farmers, Pluckk ensures that consumers have access to high-quality ingredients. This acquisition aligns with Pluckk’s mission to provide a diverse array of fresh food options, promoting healthier eating habits among urban consumers.
The company serves major urban centers such as Delhi, Mumbai, Bangalore, and Pune, ensuring its products reach a broad audience through top online and offline retailers, including Amazon, Nature’s Basket, Swiggy, Zepto, and Blinkit.
Funding and Future Plans
The acquisition is supported by recent funding led by Exponentia Ventures (EV), which aims to help Pluckk reach an annual run rate of Rs 200 crore by the end of the fiscal year. The company also plans to capture a 25-30% share from offline channels, indicating its strategy to diversify distribution.
In 2022, Pluckk successfully raised $5 million in seed funding and has expressed its intention to expand its portfolio through targeted acquisitions. This move not only reinforces Pluckk’s position in the nutrition sector but also enhances its overall product offerings, making it a competitive player in the rapidly evolving food tech market.
Conclusion
The acquisition of Upnourish marks a significant milestone for Pluckk as it endeavors to enhance its product offerings and meet the growing demand for health-centric food solutions in India. With an eye on expanding its market presence and integrating personalized nutrition into its services, Pluckk is well-positioned to thrive in the dynamic landscape of the food and nutrition industry.
