 "Foodtech start-up Pluckk acquires DIY meal kit company KOOK")
Pluckk, a Mumbai based start-up, has acquired KOOK, a food technology company, for $1.3 million through a mix of cash and equity.
KOOK offers do it yourself (DIY) meal kits that make cooking easy by providing pre-portioned ingredients and recipes. The company said in a statement it has a strong presence in Delhi and Mumbai and has a reputation of serving various dietary preferences and cooking skills.
Pluckk said its acquisition is a strategic move to tap the growth potential of the meal kit market. The global meal kit market is projected to grow from $15.21 billion in 2021 to $31.5 billion by 2025 , representing a 20 per cent growth.
"We are thrilled to welcome the young team of KOOK to the Pluckk family. Their demonstrated expertise in building a world-class product in the meal-kit space, coupled with our commitment to provide safe and chemical-free produce, will enable us to offer an unbeatable farm-to-fork experience to customers across India,” said Nelson D’Souza, chief financial officer of Pluckk
"In the post-covid world, ready to cook meal kits have emerged as a sought after cooking trend with customers preferring to control the quality of food consumed while having more dining options which we look to leverage by offering this differentiator to our customer experience," he said.
"Further, from a unit economics point-of-view, this is a welcome addition to our portfolio and will help us accelerate our journey towards building a profitable business," he added.
Pluckk is a B2C fresh produce food tech supply chain platform founded in 2021. Co-founded by Pratik Gupta with seed funding from Exponentia Ventures, it is a digital lifestyle-oriented fresh food brand in the fruits and vegetables (F&V) space.