To optimize intercity food delivery, JustMyRoots, a prominent delivery service, has recently acquired The State Plate (TSP), a renowned name in the non-perishable packaged food segment.
Under the terms of the deal, the founders of TSP, Muskaan Sancheti and Raghav Jhawar, will continue to lead the brand into its exciting future.
Samiran Sengupta, the founder and CEO of JustMyRoots says, “JustMyRoots has always been committed to redefining intercity food delivery in India, and this acquisition represents a significant stride toward that vision.”
A culinary marketplace
Muskaan Sancheti, co-founder and CEO of The State Plate, shed light on their unique approach: “As the market for regional food is also highly unorganized, no single brand exists for many local staples, spices, pickles, snacks, etc. We are building a business model suited perfectly to meet the needs of the highly diverse Indian community. We are both a curated marketplace for popular regional food brands, and a private label for many local Indian foods.”
This acquisition opens up avenues for JustMyRoots as the company seeks to strengthen its international presence. The aim is clear: to make the exquisite flavors of Indian regional food available to the vast Indian diaspora worldwide.
A proven journey
The State Plate has a notable track record, having been featured on Shark Tank India Season 1 and securing investment from Peyush Bansal, CEO of Lenskart. Additionally, the company had earlier raised pre-seed capital from VC firm Antler India at a nearly $2 million valuation.
In July 2023, former Indian cricketer Sourav Ganguly invested in JustMyRoots, signaling growing confidence in the platform’s potential.
Sparrow Advisory, a boutique investment bank based in Gurugram, played a pivotal role as the financial advisor in facilitating this strategic alliance between JustMyRoots and The State Plate. This expert guidance paved the way for realizing a bold vision in food delivery.
With its eyes on the global market and a commitment to celebrating India’s regional diversity through food, JustMyRoots is in for an exciting journey ahead.