Intercity food delivery startup, JustMyRoots, has successfully acquired The State Plate (TSP), a company specializing in non-perishable packaged food. This strategic move is part of JustMyRoots’ expansion plans to establish a strong presence in the intercity packaged food market throughout the country.
TSP gained recognition through its appearance on Shark Tank India Season 1 and received financial backing from Peyush Bensal, the CEO of Lenskart. Additionally, it secured pre-seed capital from the venture capital fund Antler India, valuing the company at nearly $2 million.
As part of the acquisition agreement, the founders of TSP, Muskaan Sancheti and Raghav Jhawar, will join the JustMyRoots team and continue to oversee the operations of their business.
Samiran Sengupta, CEO of JustMyRoots, expressed the company’s commitment to redefining intercity food delivery in India and emphasized that this acquisition is a significant step toward realizing that vision.
It is also noteworthy that former Indian cricketer Sourav Ganguly has recently taken a minority stake in JustMyRoots, further highlighting the company’s growing prominence in the market.
