NutriTap Technologies, a Gurugram based retail tech startup, today announced that it has acquired Pikobox’s business for an undisclosed amount. Pikobox is a digital vending
machine startup based out of Bangalore. With this acquisition NutriTap aims to expand
its operations in South India.
Commenting on the acquisition, Rajesh Kumar, Co-founder and CEO of Nutritap said,
"The acquisition of Pikobox reaffirms our commitment to make smart retail more
accessible for customers across the country. We have seen a surge in the demand for
contactless, smart retailing across the country and this acquisition will help us spread our
wings in the very important market of South India."
Founded by Hiran Kumar, Bharath T, Hari Prasanth and Arun Prasadh, Pikobox provides
smart retailing solutions to multiple corporate in Bangalore. This acquisition also marks
the entry of Nutritap in South India, starting from Bangalore. Pikobox’s retail kiosks offer
an easy digital way to retail in the Honesty market within Corporate offices.
"We have entered a phase of rapid growth after establishing a solid product market fit
with our patented retail technology. Pikobox's acquisition will help us establish more
strongly, our position as a market leader in retail tech while opening more channels for
brands to do D2C retail", said Nutritap's co-founder and Chief Business Officer Priyank
With this acquisition, Nutritap has established the pole position in the $7 Billion, D2C
retail market. Nutritap owns the most advanced, patented D2C retail technology which
enables multi category retail from smart, sensor based kiosks, quite similar to what
Amazon has been doing in some markets with their Amazon Go experience. Nutritap
aims to enable smart retail at more than 2,500 locations in the top metro cities of India
in the next 2 years. It had raised Rs. 3 Crores in Seed capital from marquee investors like
Patni family, Ananth Narayanan and clutch of investors from McKinsey and Google.
Nutritap’s business has grown 4X YOY and they are about to conclude a pre-series A
round of $ 1 Million in this quarter.