Pluckk, a digital lifestyle-oriented fresh food brand in the fruit and vegetable (F&V) sector, has announced the acquisition of KOOK. The Indian food tech startup offers a range of DIY tableware in a deal valued at $1.3 million.
The company said that the acquisition was made through cash and equity.
KOOK offers do-it-yourself (DIY) ready-to-cook kits that simplify cooking by providing pre-portioned ingredients and easy-to-follow recipes. Known for catering to every dietary preference and culinary skill, KOOK has a strong presence in Delhi and Mumbai.
“With KOOK’s strong target audience and expertise in meal kits, Pluckk is well-positioned to deliver the highest quality fresh food to end consumers in this booming $15 billion market,” it said.
Commenting on the acquisition, Pluckk Chief Financial Officer Nelson D’Souza said, “KOOK’s expertise in creating world-class meal-kit products, combined with Pluckk’s commitment to providing safe and safe products chemical-free, will allow us to offer an unparalleled farm-to-table experience to customers across India.
“In the post-pandemic era, ready-to-eat meal kits have become a sought-after culinary trend. Customers prefer to control their food quality while having more dining options. We hope to capitalise on this by providing this differentiator for the customer experience.
“Additionally, from a unit economics standpoint, this is a welcome addition to our product portfolio and will help us accelerate our progress toward building a profitable business,” he said.
According to the statement, Pluckk’s acquisition of KOOK is a strategic move aimed at tapping the huge growth potential of the meal box market and bringing significant opportunities to Pluckk.
The global market is expected to grow from $15.21 billion in 2021 to $31.5 billion in 2025 at a CAGR of 20%.
“The synergy between what we’re building in KOOK and the lifestyle-first approach that Pluckk is bringing to the fruit and vegetable category seems compelling.
“Combining our range of DIY meal containers with Pluckk’s digital lifestyle-oriented brand will allow us to offer more convenient and healthy meal options to discerning customers in the growing markets where Pluckk operates,” said KOOK, United Founder Apita Geras said.
Nikhil Thatai, the co-founder of KOK, said, “We estimate that the market size of meal kits in India will reach around USD 1 billion by 2025, and we look forward to leveraging our expertise in meal kit delivery to provide healthy and delicious meal options to meet the to this booming market in our country.”
KOOK is a DIY meal kit startup founded in 2020 by ISB alumni Nikhil and Arpitta. With operations across Delhi and Mumbai, KOOK aims to simplify home cooking.
Pluckk provides health-conscious consumers with a farm-to-fork product line that offers safe and chemical-free products through its ozone wash and traceability programmes.
Customers can shop by food trends like gut health, heart health and diabetes and get products beyond the basics, including organic and exotic produce.
Pluckk’s products are available on their own direct-to-consumer (D2C) platform and partner platforms such as Blinkit, Swiggy, Zepto, Dunzo and Amazon.
Co-founded by Pratik Gupta, with seed funding from Exponentia Ventures (EV), Pluckk currently operates in Bengaluru and Mumbai, delivering a wide selection of delicious fruits and vegetables directly to end consumers without intermediaries.
The platform has already served more than 500 farmers in Mumbai and Bengaluru and plans to reach 1,000 in the next 6 months.