The Whole Truth (TWT), a clean-label health food brand, has successfully raised USD 15 million in a Series C round. The funding round was led by Sofina and also saw participation from existing investors which include Z47, Peak XV Partners, and Sauce.VC.
Furthermore, the backing also came in the earlier rounds from angel investors such as Nithin Kamath (Zerodha), Sriharsha Majety (Swiggy), and Jaydeep Burman (Rebel Foods). The funds that have been raised will be utilized to steer the brand’s in-house manufacturing expansion, category growth, and talent acquisition.
The firm was founded by ex-Unilever marketer Shashank Mehta, wherein, it is known in the market to offer a range of products which encompasses protein bars, dark chocolates, peanut butter, immunity balls, energy bars, and muesli. Furthermore, the company also provides subscription options and has claimed that 80-85% of its sales come from its website, while remaining revenue is generated through partnerships.
Additionally, by bringing in underrepresented groups such as women, teenagers, and older adults, the firm is also expanding the market beyond traditional fitness consumers. The company continues to reshape the USD 40 billion packaged food industry in India alongside its flagship products.
If we speak of the growth, TWT has showcased 81% year-on-year growth, wherein, the revenue rose from Rs 35.96 crore in FY23 to Rs 65.3 crore in financial year 2024. Furthermore, the company has also reduced its losses by 33% during the same period.
