NutriTap acquires Pikobox business

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

Tewari

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.