VC Fund Investments
Protein bars seller The Whole Truth raises $15.8 M in Series C led by Sofina Ventures
Mumbai-based healthy snacks seller The Whole Truth is raising INR 133.3 crore (around USD 15.8 million) in a Series C round led by Sofina Ventures (INR 65.8 crore). The round also saw participation from Matrix Partners (INR 29.5 crore) and Peak XV (INR 25 crore). Sauce Continued Fund will also invest INR 13 crore. The firm will have a post-allotment valuation of around INR 2,135 crore (USD 254 million) which marks a 3.6X increase in valuation compared to its Series B round.The fresh funds will be used to meet the firm's financial requirements and support business expansion.Founded in 2019 by Shashank Mehta, The Whole Truth offers a range of products, including protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli .The Whole Truth claims to have recorded a 81% year-on-year growth, with revenue rising to INR 65.3 crore in FY24 from INR 35.96 crore in FY23. The company reduced its losses by 33% during the same period.
Between Sep 2019 and Jan 2023, The Whole Truth had raised about USD 17.99 M from Sauce VC, Z47, Rainmatter Capital, and Peak XV Partners.For FY24, The Whole Truth had reported about INR 65.33 Cr in Operating Income and about INR 23.82 Cr in Net Loss.
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