Justmyroots buys The State Plate to expand intercity food delivery service

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Justmyroots, an inter-city food delivery start-up, announced on Monday that it has acquired regional food and grocery delivery platform, The State Plate (TSP).


With the acquisition, the company said customers can anticipate a broader range of high-quality, non-perishable food items as it enters the regional packaged food sector.


Under the terms of the agreement, TSP’s founders, Muskaan Sancheti and Raghav Jhawar, will join the Justmyroots team. They will continue to lead and manage the TSP brand, as the company aims to become a Rs 100 crore brand within the next three years.


“Justmyroots has always committed to redefining inter-city food delivery in India, and this acquisition marks a significant step towards that goal,” said Samiran Sengupta, founder and chief executive officer at Justmyroots. “The young founders, Muskaan and Raghav, will assume roles that are cross-functional across both organisations and will aid us in developing products geared towards younger customers.”


Sparrow Advisory, a Gurugram-based boutique investment bank run by Rohit Bhargava, served as the financial adviser to both Justmyroots and The State Plate for the transaction.


Founded in 2021 by Muskaan Sancheti and Raghav Jhawar, TSP specialises in delivering a broad array of state-specific food items and groceries, ranging from snacks and sweets to staples and beverages. The platform offers food and ingredients from diverse states such as Maharashtra, Karnataka, West Bengal, Rajasthan, Andhra Pradesh, Gujarat, Assam and others.


The State Plate gained recognition on Shark Tank India Season 1 and secured funding from Peyush Bansal, chief executive officer of Lenskart, on the show. The company also previously raised pre-seed capital from venture capital fund Antler India at a valuation close to $2 million.


“As the market for regional food is highly fragmented, no single brand exists for many local staples like spices, pickles, snacks, and the like. We’re constructing a business model finely tuned to meet the needs of India’s diverse communities, each with its distinct food habits, cultures, festivals, and traditions. We serve as both a curated marketplace for popular regional food brands and a private label for numerous local Indian foods,” said Muskaan Sancheti, chief executive officer and co-founder of The State Plate.


In July 2023, Justmyroots secured an investment from former Indian cricketer, Sourav Ganguly.